WASHINGTON: Shares of Adani Ports and Special Economic Zone rose nearly 2% to hit its one-month high after Emerging Market Investment DMCC bought 500,000 shares or 0.02% stake in the company through the open market on Thursday. The additional share purchase has raised Emerging Market Investment DMCC’s stake in the company to 1.79% from 1.76%, data available at the exchanges showed.
Adani Ports & Special Economic Zone Ltd is currently trading at Rs 404.8, up by Rs 3.3 or 0.82% from its previous closing of Rs 401.5 on the BSE. The stock opened at Rs 403.5 and has touched a high and low of Rs 412.3 and Rs 401.65 respectively. The promoters holding in the company stood at 63.34% while Institutions and Non-Institutions held 32.32% and 4.34% respectively. The stock is currently trading above its 50 DMA. APSEZ, a subsidiary of Adani Enterprises, is India’s biggest multi-port operator providing cargo handling and value-added port services. It is engaged in the business of developing, operating and maintaining the Port and Port-based related infrastructure facilities. Its port services include marine, handling intra-port transport, storage, other value-added and evacuation services.
