 "Gujarat Pipavav gains on pact with NYK Auto Logistics")
Gujarat Pipavav Port has moved higher by 5% to Rs 174 after the company said it entered into an arrangement with NYK Auto Logistics (India) Pvt. Ltd. wherein NYK has been sub-leased land for developing a dedicated common user integrated RO-RO yard at Pipavav Port.
The company said the RO-RO yard with annual designed capacity for handling 250,000 vehicles will be ready for operations by 02 of Calendar Year 2015.
The company will provide all the port and related facilities to NYK for ensuring smooth and seamless flow of automobile cargo upon commencement of the RO-RO facility, it added.
The stock opened at Rs 170 and touched a low of Rs 169 in early morning trade on BSE. Till 1059 hours, a combined 545,292 shares changed hands on the counter on BSE and NSE.
The company said the RO-RO yard with annual designed capacity for handling 250,000 vehicles will be ready for operations by 02 of Calendar Year 2015.
The company will provide all the port and related facilities to NYK for ensuring smooth and seamless flow of automobile cargo upon commencement of the RO-RO facility, it added.
The stock opened at Rs 170 and touched a low of Rs 169 in early morning trade on BSE. Till 1059 hours, a combined 545,292 shares changed hands on the counter on BSE and NSE.