JSW Infrastructure's share price jumped 2 percent in the opening trade on October 15 after the company received a Letter of Intent (LOI) from Maharashtra Maritime Board to develop a weather & multipurpose port in Palghar, Maharashtra.
At 09:26 am, JSW Infrastructure was quoting at Rs 325.55, up Rs 6.50, or 2.04 percent, on the NSE.
The company has received a Letter of Intent from the Maharashtra Maritime Board for the development, operation, management, and maintenance of an all-weather and multipurpose port at village Murbe in the Palghar district of Maharashtra on a public-private partnership (PPP) basis – design, built, own, operate and transfer (DBOOT) model.
The LOI is valid for 24 months, s, with a further extension clause, which is subject to fulfillment of the terms and conditions stipulated therein.
The royalty payable is based on per metric ton which will be escalated in the block period of 5 years.
Last week, the company's subsidiary JSW Port Logistics, completed the acquisition of a 70.37% stake in Navkar Corporation from its promoters.
The share touched a 52-week high of Rs 360.95 and a 52-week low of Rs 162.05 on 04 July 2024 and 26 October 2023, respectively.
Currently, the stock is trading 9.81 percent below its 52-week high and 100.89 percent above its 52-week low.
0 Comment