Adani Port up on CMA CGM deal, but Gujarat Pipavav falls

Written by Reuters | Updated: Jul 7 2014, 17:11pm hrs
Shares of Adani Port and Special Economic Zone Ltd gain 1.9 percent after France's CMA CGM Group said on Friday it will partner with the Indian company to build a new container terminal in western India.

But rival Gujarat Pipavav Port Ltd is down 0.5 percent as traders worry about the impact from Adani Group's expansion plans.

Gujarat Pipavav Port reduced its capex plans in April.