January 9, 2018 / 6:11 AM / 10 days ago

BUZZ-India's Srei Infrastructure jumps; to buy Sterling Port -report

** Shares of Srei Infrastructure Finance Ltd surge as much as 5 pct to 107.90 rupees

** Stock hit highest since Nov 30, 2017

** A consortium of co and JSW Infrastructure is set to buy the upcoming Sterling Port in Dahej, Gujarat from its lenders, economic daily Mint reports, citing two people aware of the matter bit.ly/2m9ym4J

** “Basically, the port is stressed loan for the company and any kind of resolution is a positive. If they are able to get control of the assets it will aid resolution and recovery process,” says Vishal Modi, deputy head of research at Maybank Kim Eng, a unit of Maybank

** A company spokesman was not immediately available for comment

** Up to Monday’s close, the infrastructure finance company’s shares had risen 2.8 pct this year

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