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Nifty moved in a range of 100 points throughout the session and formed an Inside Bar on the daily chart, suggesting the ongoing consolidation in the market.
Synopsis
Other plans include a 700-crore expansion of its own terminal to handle bigger ships, said Jakob Sorenson, managing director of Gujarat Pipavav (GPL), the local unit of APM. He added that the Indian company may also look at buying more ports.
Jakob Sorenson, MD, Gujarat Pipavav
APM Terminals, the parent company of Gujarat Pipavav Terminals, is interested in acquiring Anil Ambani’s shipyard
Reliance Naval and Engineering, which is currently undergoing a resolution process at the bankruptcy courts.
Other plans include a 700-crore expansion of its own terminal to handle bigger ships, said Jakob Sorenson, managing director of Gujarat Pipavav (GPL), the local unit of APM. He added that the Indian company may also look at buying more ports.
Centrum BrokingGujarat Pipavav (Buy) Target: ₹128CMP: ₹107.90Gujarat Pipavav Port’s (GPPL) Q4FY21 recurring PAT at ₹57.20 crore (up 19.5 per cent y-o-y) trailed estimate due to lower realisation/margi
Equity indices traded with small gains amid a bout of volatility in morning trade. The Nifty traded above the crucial 15,300 mark. Metal and IT stocks were in demand while pharma and realty shares corrected.
At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 47.78 points or 0.09% at 51,065.53. The Nifty 50 index was up 19.80 points or 0.13% at 15,321.80.
In broader market, the S&P BSE Mid-Cap index was up 0.22% while the S&P BSE Small-Cap index was up 0.4%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1624 shares rose and 1087 shares fell. A total of 138 shares were unchanged.