Essar Ports rallied on Wednesday after media reports stated Adani Ports & Special Economic Zone is in talks with the company to buy port assets. However, the company clarified, "The news item as reported in the media is speculative and as such we are not in a position to comment on market speculation."

Further, the company said it is not aware of any event or development of the nature reported in the article or any material development which the Company is obliged to disclose under Clause 36 of the listing agreement.

Shares of Essar Ports closed at Rs 124.30, up Rs 5.8, or 4.89% at the Bombay Stock Exchange (BSE) on Wednesday. The scrip has touched an intra-day high of Rs 140.50 and low of Rs 122. In the earlier sess

Total volume of shares traded on the bourses today was higher by 17.11 times to 1,316,501 compared with 22-day average volume of 72,674.