Gujarat Pipavav shares rose over 8 percent to Rs 51.80 after it posted an around three-fold jump in its March quarter profit( Q1). While the firm has reported 35.4 crore profit when compared with Rs 14 crore in the year-ago period, its sales also grew 24 percent to Rs 124.5 crore on improved rail volumes.
The firm is in the process of executing capex of around Rs 11 billion to expand its present berth capacity. It also plans to double container capacity by calendar year 2015 to 1.4 m TEUs (twenty foot equivalent unit) and is also keen to increase bulk handling capacity to 10 million tonne
On the bulk-handling capacity expansion, it would stand to benefit from the additional demand for coal that would arise from proposed power plants of groups like Videocon, Torrent Power, Simplex and Visa. Read This: Buy Gujarat Pipavav Port; target Rs 70: GEPL Capital
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