 "Port shares in focus; Essar Ports, Gujarat Pipavav hits 52-week high")
Shares of companies engaged in marine port and services business are in focus and rallied by up to 18% in early morning trade on back of heavy volumes.
Essar Ports, Gujarat Pipavav Port and Adani Port and Special Economic Zone (SEZ) have rallied between 4-18% on the Bombay Stock Exchange (BSE).
At 1014 hours, Essar Ports trading 8% higher at Rs 128 on BSE. The stock surged 18% to Rs 141 in early morning trade, also its 52-week high, on media reports that Gautam Adani led Adani Ports & SEZ is said to be in talks with Essar Group to acquire its ports business.
The counter has seen huge trading volumes with a combined 947,306 shares changed hands so far against an average sub 200,000 shares that were traded daily in past two weeks on BSE and NSE.
Shares of Adani Ports and SEZ were up 1.5% at Rs 342, after gained nearly 4% to Rs 349 in early morning trade on BSE.
Gujarat Pipavav Port too surged 6% to Rs 242 on BSE. The stock hit a record high of Rs 245 in intra-day trade so far.
Essar Ports, Gujarat Pipavav Port and Adani Port and Special Economic Zone (SEZ) have rallied between 4-18% on the Bombay Stock Exchange (BSE).
At 1014 hours, Essar Ports trading 8% higher at Rs 128 on BSE. The stock surged 18% to Rs 141 in early morning trade, also its 52-week high, on media reports that Gautam Adani led Adani Ports & SEZ is said to be in talks with Essar Group to acquire its ports business.
The counter has seen huge trading volumes with a combined 947,306 shares changed hands so far against an average sub 200,000 shares that were traded daily in past two weeks on BSE and NSE.
Shares of Adani Ports and SEZ were up 1.5% at Rs 342, after gained nearly 4% to Rs 349 in early morning trade on BSE.
Gujarat Pipavav Port too surged 6% to Rs 242 on BSE. The stock hit a record high of Rs 245 in intra-day trade so far.