JSW Infrastructure share price jumped 2 percent in the opening trade on October 15 after the company received a Letter of Intent (LOI) from Maharashtra Maritime Board to develop all weather & multipurpose port in Palghar, Maharashtra.
At 09:26am, JSW Infrastructure was quoting at Rs 325.55, up Rs 6.50, or 2.04 percent, on the NSE.
The company has received a Letter of Intent from Maharashtra Maritime Board for development, operation, management and maintenance of an all-weather and multipurpose port at village Murbe in Palghar district of Maharashtra on public private partnership (PPP) basis – design, built, own, operate and transfer (DBOOT) model.
The LOI is valid for 24 months, s, with a further extension clause, which is subject to fulfillment of the terms and condition stipulated therein.
The royalty payable is based on per metric ton which will be escalated in the block period of 5 years.
Catch all the market action on our live blog
Last week, company's subsidiary JSW Port Logistics, has completed the acquisition of a 70.37% stake in Navkar Corporation from its promoters.
The share touched a 52-week high of Rs 360.95 and a 52-week low of Rs 162.05 on 04 July, 2024 and 26 October, 2023, respectively.
Currently, the stock is trading 9.81 percent below its 52-week high and 100.89 percent above its 52-week low.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
