.

follow-on-google-news

This S&P BSE Smallcap stock has a market cap of Rs. 6,710 crore and rose around 2% within the first hour of markets open with volumes that are over 0.3x monthly average volumes.

The stock trades 2% away from its 52 week high and has a significant DII and FII holding. DIIs hold 22% and FIIs hold 21% of the company. 

In NSE exchange data, the deal is shown to have occurred on 18th October 2023 and could be the cause for spurt in volume for the company yesterday. Gujarat Pipavav Port Ltd. (“GPP”) had a sizable stake acquired by Wisdomtree India Investment Portfolio Inc which was 24.71 lakh shares, which is equivalent to 0.51% of paid-up equity, in the company, at an average price of Rs 138.23 per share. 

Wisdomtree is a global firm – an FII with presence in over 12 countries across EU, US and ASIA and 200+ employees and over USD 95 billion AUM.The WisdomTree India Earnings Index is a fundamentally weighted index that tracks the performance of profitable Indian-incorporated and -traded companies that are currently available for purchase by foreign investors. 

Companies’ weights in the Index are determined by their earnings in the fiscal year that preceded the Index measurement date, adjusted for a factor that takes into account shares that are available to foreign investors.

Gujarat Pipavav Port Ltd is in the business of offering port handling and marine services for LPG, bulk, and container cargo. The business also runs a CFS and makes money through infrastructure and land-related ventures.The business created and runs APM Terminals Pipavav, India’s first private sector port with operations for multiple users and types of cargo. 

According to the Concession Agreement with GMB and the Government of Gujarat (GoG), it has until September 2028 the sole right to construct and run APM Terminals Pipavav and associated facilities.

Written by Sandeep R

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

×