It seems like that the shares of Adani Ports and Special Economic Zone (APSEZ) has been up by 3% which is at Rupees 714 which was on the BSE which is in Intra-day on Monday and it is being risen for the past 2 trading days which has made it to rise by 10% as one of the promoters has bought 2 million shares through an open market of the company.
On 17th June 2021, infinite trade and investment ltd which is one of the promoter groups of the company has purchased about 1.93 million shares as they are representative of the 0.09% of the shares which are worth rupees 126.81 crore that is of the company and they bought the shares through an open market, this has been disclosed by APSEZ which they did on 19th June 2021, the shares have been bought by the promoter having an average price of rupees 656.88 which is according to per share and this has been revealed by the data and it has been also seen that the prior to this venture that the promoters have gone for, they have never invested in the company’s shares before this.
the stock has managed to tank about 26% in the recent 8 trading days which has happened between 7th June to 17th June which has happened after a report which has been presented by media as three of the foreign accounts have been frozen by the National Securities Depository Ltd and those foreign promoters had stake in 4 of the companies that belongs to Adani, the name of the companies are Cresta, Albula investment fund and APMS whose accounts have been frozen by the authorities and it seems like that the stock has hit the highest record that it has recorded which is rupees 901 which happened on 9th June on one of the intra day which happened on BSE.
APSEZ is the largest commercial port when you talk about India and also the largest integrator when it comes to the logistic players in the country, the annual report of the company has suggested that that the growth is going to be directed because of the logistics as the government is planning to reduce the cost of logistics and it seems like that the company is seeing a tremendous growth and Adani is adding billions to his name in a pretty fast manner.
