JSW Infrastructure gains 3% on Acquisition of Marine Oil Terminal by Subsidiary
12.22.2023 By Tank Terminals - NEWS

December 22, 2023 [Money Control]- Shares of JSW Infrastructures Limited traded 3 percent higher at Rs 230 in early trade on December 20 after the company announced that its wholly owned subsidiary has completed the acquisition of Marine Oil Terminal.

 

JSW Terminal in the Middle East has acquired Marine Oil Terminal a Marshall Island-based company. Consequent to the completion of the acquisition, Marine Oil Terminal has become the step-down subsidiary of the JSW Infrastructures, the company said in a regulatory filing on December 19.

At 9:21am, the JSW Infra counter was trading at Rs 229, up 1.7 percent from the previous close on the NSE. Since its listing on October 3, the company has given a return of almost 44 percent.

In early December, the company announced that it had entered into a share purchase agreement with SP Port Maintenance (a Shapoorji Pallonji Group company) to acquire 50 percent plus one share of PNP Maritime for about Rs 270 crore.

JSW Infra is involved in the business of maritime-related services including, cargo handling, storage solutions, and logistics services. It also operates ports and port terminals.

 

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