It was a phenomenal listing of Mundra Port and Special Economic Zone, India's largest non-government cargo terminal, which closed the day at Rs 959, a premium of 117.95% over its offer price of Rs 440 on the NSE. The share opened at Rs 770 and hit a high of Rs 1050. It traded with volumes of 2,72,94,366 shares and turnover at Rs 2,688 crore.
In an interview with CNBC-TV18, Ameet Desai, ED, Mundra Port & SEZ said they would be able to sustain CAGR of a high 30%. Coal and crude will contribute to a large part of the growth, almost 50-60%, going forward.
Container cargo, fertiliser, minerals, steel products are also seen as drivers.
They see small stream of SEZ revenues this year onwards.
The stock rose to a high of Rs 1150 before ending the day at Rs 961.70 on the BSE. It traded with volumes of 1,48,06,215 shares.
Sebi has denied permission to Mundra Port to trade in futures and options (F&O) segment.
The company had entered capital market with an IPO of 40.25 million shares and got subscribed 115.84 times. The company raised Rs 1771 crore from the market.
The objects of the issue were to part financing of construction and development of basic infrastructure and the allied facilities in the proposed SEZ at Mundra; construction and development of a terminal for coal and other cargo at Mundra Port; contribution towards investment in Adani Petronet (Dahej) Port Private Limited; contribution towards investment in Adani Logistics Limited; contribution towards investment in Inland Conware Private Limited and general corporate purposes.
Source: Moneycontrol.com
Tuesday, November 27, 2007
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