Essar Ports gains on refinancing debt

Essar Port gained on Friday after it re-financed its debt in a subsidiary, Essar Bulk Terminal, through a finance scheme of the India Infrastructure Finance Company (IIFCL). The company has availed the take out finance scheme to reduce its interest rate by over two and half per cent on Rs 4.05 billion which is part of debt taken for building its 30 million ton capacity bulk terminal at Hazira in Gujarat.Shares ofthe companyare trading at Rs 88.05, up Rs 2, or 2.32% at the Bombay Stock Exchange (BSE) on Friday at 10:42 a.m.The scrip has touched an intra-day high of Rs 88.95 and low of Rs 87.70. The total volume of shares traded at the BSE is 2,463.In the earlier session, the shares gained 0.06%, or Rs 0.04, at Rs 86.05. Currently, the stock is trading down 14.51% from its 52-week high of Rs 103 and above 87.74% over the 52-week low of Rs 46.90.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 86.45 (0.40) (0.46) 1 Month 94.20 (8.15) (8.65) 3 Months 88.95 (2.90) (3.26) 6 Months 80.60 5.45 6.76 1 Year 65.10 20.95 32.18 Note: Based on previous day closing price.