At 09:37 am, the stock was trading at Rs 348.55, up 0.66 per cent. In comparison, the benchmark S&P BSE Sensex was quoting 173 points or 0.45 per cent higher at 38,583 levels.
In the past one month, shares of the company have slipped over 5.5 per cent while benchmark Nifty50 has declined around 7 per cent. The stock hit a 52-week high of Rs 430 on May 23, 2019 and 52-week low of Rs 334.65 on March 6, 2019.
In Januray, Adani Ports had announced acquisition of 75 per cent stake in Andhra Pradesh-based Krishnapatnam Port Company for an enterprise value of Rs 13,572 crore. The proposed acquisition is the largest by APSEZ so far and would be funded through internal accruals and existing cash balance, the Gautam Adani-led company had said in an exchange filing. READ MORE
The company had posted a 4.3 per cent fall in consolidated profit at Rs 1,356.59 crore for the December 2019 quarter, on the back of higher expenses. The company had posted a consolidated profit of Rs 1,418.96 crore in the year-ago period. However, the firm's consolidated total income during the October-December 2019 period increased to Rs 3,830.43 crore, compared with Rs 3,168.88 crore in the year-ago period.