Shares of JSW Infrastructure surged to a new 52-week high in Friday's trading session after the company outbid Adani to secure a significant Public-Private Partnership (PPP) project. The infrastructure firm won the bid to develop an all-weather, deep-water port at Keni in Karnataka, with the project estimated at ₹4,119 crore (INR100 crore = approx. USD12 million) and an initial capacity of 30 million tonnes per annum (MTPA).
The stock opened strongly at ₹217.70, up from its previous close of ₹202.80, and peaked at ₹220 before stabilizing around ₹212. The positive market reaction reflects investor confidence following the announcement of the successful bid for the port, which is expected to handle a diverse range of cargo including coal, coke, iron ore, limestone, dolomite, as well as steel product exports.
The strategic significance of the project is highlighted by the Karnataka Maritime Perspective Plan, which points to the critical need for a deep draft port to meet the rising cargo handling requirements in the region. The port is designed to bolster infrastructure that caters to key industries such as steel, cement, and power plants.
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