Mundra Port extends gains on Gujarat govt deal

MUMBAI: Shares of Mundra Port and Special Economic Zone Ltd posted significant gains after it signed a deal with the Gujarat state government to invest Rs 15000 crore in phases.

It would invest in development of a modern coal handling terminal, a container terminal, a port with dry and bulk cargo berths and liquid cargo berths at the Mundra port, it said in a statement.

The company intended to start commercial operation of the proposed facilities in a phased manner from 2011 onwards, it added.

At 10:20 am, the stock rose 4.09 per cent to Rs 368.60 after touching a high of Rs 378 in the first few minutes of trade.