Gujarat Pipavav stock hits new high, soars 9% in subdued market

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Gujarat Pipavav stock hits new high, soars 9% in subdued market - Business Standard

Quick Summary:

Pipavav Port is in the forefront amongst all Indian ports in driving the government's initiative of increasing the market share of railways in freight handling.

In order to cater to the increased volume of car exports, Pipavav recently completed development of the first phase of open stackyard covering the area of 42,000 sq.mtrs.and has been put to use.

It will not only enhance the port’s liquid cargo handling capabilities but will also be an effective contribution in supporting the Government of India’s initiative of providing LPG connection to every household under the Pradhan Mantri Ujwala Yojana, the company said.