InvestorQ : Why did the stock of Adani Ports SEZ rally sharply on 25 August?
rhea Babu made post

Why did the stock of Adani Ports SEZ rally sharply on 25 August?

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Riya Dwivedi answered.
4 months ago
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Adani Ports has confirmed that the Andhra Pradesh Government had approved its proposed acquisition of 10.4% stake in Gangavaram Port on the Easter coast of India. Adani Ports will pay Rs.645 crore for this stake. This stake will give Adani Ports better balance between East and West Coast ports so as to offer better reach to the hinterland trade. Gangavaram Port is a multi-cargo facility and handled 32.81 MMT cargo in FY21 having capacity of 64 MMT.

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