Gujarat Pipavav see's bargain hunters

Yesterday, there was major worry that the latest cyberattack had affected the workings of Gujarat Pipavav Port and the stock price had accordingly tanked. Operations at Jawaharlal Nehru Port Trust (JNPT) run by AP Moller-Maersk, near Mumbai, were disrupted by a the global ransomware attack. 

The company issued a clarification yesterday evening saying that the impact would not be major.

It has stated, “last evening A.P.Moller-Maersk was hit as a part of a global cyberattack affecting multiple sites and business units including Gujarat Pipavav Port Limited 'the Company'. This attack has not had any major impact on the Company at this point in time. Please note that the Company is responding to the situation to limit the impact and uphold the port operations. We continue to assess the situation that may impact our customers and partners and will keep you updated."

The market is happy that the damage could be minimal and bargain hunters are back on the counter. The stock price rose in the early morning trades to Rs.147.55, up 2%. Its 52-week high and low stands at Rs.197.35 and Rs.121.20 respectively.