The announcement was made on Friday (21 April 2023).

Gujarat Pipavav Port has been operating the Pipavav port in Saurashtra, Gujarat, since 1998. It has exclusive rights to develop and operate facilities of APM Terminals in Pipavav until September 2028, according to a concession agreement with Gujarat Maritime Board and the government of Gujarat. The company handles four cargo types: container, dry bulk, liquid bulk, and RoRo.

The company had reported 89.15% jump in consolidated net profit to Rs 84.36 crore on a 48.65% increase in sales to Rs 250.57 crore in Q3 FY23 over Q3 FY22.

The scrip was currently trading 2.61% higher, at Rs 112.25 on the BSE. In the previous session, it had closed at Rs 109.40.

The stock hit a high of Rs 112.7 and a low of Rs 109.05 so far during the day.

In the past six months, the scrip had gained 35.13% while the benchmark Sensex has lost 1.10% during the same period.