Adani Port Up on CMA CGM Deal, But Gujarat Pipavav Falls

Shares of Adani Port and Special Economic Zone gain 1.9 per cent after France's CMA CGM Group said on Friday it will partner with the Indian company to build a new container terminal in western India.

But rival Gujarat Pipavav Port Ltd is down 0.5 per cent as traders worry about the impact from Adani Group's expansion plans.

Gujarat Pipavav Port reduced its capex plans in April.

As of 11.30 a.m. shares in Adani Port and Special Economic Zone traded 1.67 per cent higher at Rs 279.75 compared to 0.25 per cent gain in Nifty.

Copyright: Thomson Reuters 2014

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