
Shares of the port operator JSW Infrastructure Ltd are in news today after the company said it received a Letter of Intent (LOI) from Maharashtra Maritime Board to develop all weather & multipurpose port in Palghar, Maharashtra.
"The company has received a Letter of Intent from Maharashtra Maritime Board for development, operation, management and maintenance of an all-weather and multipurpose port at village Murbe in Palghar district of Maharashtra on public private partnership (PPP) basis – design, built, own, operate and transfer (DBOOT) model," it said in a communication to bourses.
JSW Infrastructure stock ended at Rs 319.20 on Monday on BSE. The stock fell to a 52-week low of Rs 160.50 on October 26, 2023 and rose to 52-week high of Rs 361 on July 4, 2024.
The LOI is valid for 24 months and carries a further extension clause, which is subject to fulfillment of the terms and condition stipulated therein.
The royalty payable is based on per metric tonne, which will be escalated in the block period of 5 years.
In terms of technicals, the relative strength index (RSI) of the stock stands at 44.4, signaling the stock is trading neither in the overbought nor in the oversold zone. JSW Infra shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day but higher than the 150 day and 200 day moving averages.
JSW Infrastructure is a private player focused on developing, operating and maintaining ports services, ports-related infrastructure development activities, and development of infrastructure. It offers port services that involve marine services, including the piloting of vessels using tugs, mooring, berthing, and de-berthing; stevedoring services, including loading/unloading cargo to and from berthed vessels using mobile harbor cranes/ship unloaders.