Adani Ports and Special Economic Zone rose 3.12% to Rs 373.95 at 14:21 IST on BSE after the company said Moody's has changed its outlook on the company to stable from negative.
The announcement was made during market hours today, 19 June 2017.Meanwhile, the S&P BSE Sensex was up 268.02 points or 0.86% at 31,324.42.
On the BSE, 3.15 lakh shares were traded on the counter so far as against the average daily volumes of 4.20 lakh shares in the past one quarter. The stock had hit a high of Rs 374.80 so far during the day, which is a record high. The stock hit a low of Rs 365 so far during the day. The stock had hit a 52-week low of Rs 195.55 on 24 June 2016.
The stock had outperformed the market over the past one month till 16 June 2017, advancing 2.39% compared with the Sensex's 1.55% rise. The stock had also outperformed the market over the past one quarter, gaining 11.74% as against the Sensex's 4.97% rise. The scrip had also outperformed the market over the past one year, surging 74.81% as against the Sensex's 17.08% rise.
The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.
Moody's has re-affirmed its investment grade rating at Baa3 on Adani Ports and Special Economic Zone (APSEZ).
On consolidated basis, APSEZ's net profit rose 29.1% to Rs 1164.07 crore on 17.5% growth in net sales to Rs 2231.46 crore in Q4 March 2017 over Q4 March 2016.
Adani Ports and Special Economic Zone is a port developer and the logistics arm of Adani Group.
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