 "Gujarat Pipavav hits record high; zooms over 200% in 2014")
Shares in Gujarat Pipavav Port has soared 14% to Rs 199, also is record high on National Stock Exchange (NSE), on back of heavy volumes.
Till 1142 hours, a combined 3.59 million shares representing nearly 1% of total equity of the company changed hands against an average sub one million shares that were traded daily in past two-weeks on NSE and BSE.
In past four trading sessions, the stock rallied 21% from Rs 165 on December 22, 2014, after the company has 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 (roll-on/roll-off) yard at Pipavav Port.
A RoRo terminal caters to ships designed to carry automobiles, trucks, and railroad cars among others vehicles.
The yard is expected to be commissioned in the second quarter of 2015 and will be provided with all port and related facilities by Gujarat Pipavav Port, said the release.
Meanwhile, so far in the current calendar year 2014, the stock zoomed 216% from Rs 63 on December 31, 2013, compared to 31% rise in the benchmark CNX Nifty.
Till 1142 hours, a combined 3.59 million shares representing nearly 1% of total equity of the company changed hands against an average sub one million shares that were traded daily in past two-weeks on NSE and BSE.
In past four trading sessions, the stock rallied 21% from Rs 165 on December 22, 2014, after the company has 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 (roll-on/roll-off) yard at Pipavav Port.
A RoRo terminal caters to ships designed to carry automobiles, trucks, and railroad cars among others vehicles.
The yard is expected to be commissioned in the second quarter of 2015 and will be provided with all port and related facilities by Gujarat Pipavav Port, said the release.
Meanwhile, so far in the current calendar year 2014, the stock zoomed 216% from Rs 63 on December 31, 2013, compared to 31% rise in the benchmark CNX Nifty.