Adani Ports & SEZ resumed its upward trek at the markets today

Adani Ports & SEZ resumed its upward trek and hit fresh record highs after the company signed a pact with the Kerala Government to develop a sea port.

Adani said it had signed a concession agreement today with the state government of Kerala for the development, maintenance and operation of Vizhimjam Inter Deep Water Multi-purpose Sea Port Project. The Agreement followed a letter of award given to the company earlier in July.

As a result, Adani gained 6 rupees, or 1.7 percent, to 364.35 rupees on the National Stock Exchange where 31 lakh shares changed hands compared with a 5-day average of 53 lakh shares.

Adani Ports' market capitalisation has gained 33 percent in the past one year to 75,480 crore rupees.

(Image credits: Indiatimes)