Adani Ports and Special Economic Zone Ltd’s second-quarter results beat analysts’ estimates of a decline in its revenue. Even though the company suffered a profit loss due to MAT credit write-offs, its revenue grew by 28 per cent.
Analysts have maintained their ‘buy’ call on the stock. Some brokerages have priced the stock at Rs. A target price of up to 1150 has been maintained, indicating a potential upside of up to 30 per cent over the counter. Adani Ports rose 1.10 percent around 11 am today at Rs. was trading at 845.25.
America’s support to Adani, now it will get a huge amount for this work, investors vandalized the stock
Adani Group’s Strongest Stock
Its 52-week high price is Rs. 916 and a lower Rs. is 395.10. Since the Hindenburg report, the stock has lost just Rs.7 per share. In contrast, Adani’s other shares have fallen by 84 percent. It has increased by around 18 percent in the last six months.
Nuwama Institutional Equities has set a target price on Adani Port at Rs. 958 has been kept. “With strong growth and prudent capex, we expect return ratios and debt metrics to improve over the next few years,” Nuwama said.
Motilal Oswal Rs. A target of 1,050 was given
Motilal Oswal Securities on the stock at Rs. Recommending a target of 1,050, it said, “Cargo volumes are expected to grow by 13 per cent in FY2023-25 due to increased operations at recently acquired ports. This will boost revenue/EBITDA. /PAT CAGR to 20 per cent, 17 per cent and 12 per cent respectively. percent will increase.” Jefferies on Adani Ports for Rs. Maintained ‘Buy’ with target price of 985. While the share price to CLSA was Rs. 878 is known to be.
Financial position of Adani Ports
Adani Ports revenue in May was Rs. 24,000-25,000 crore and Ebitda Rs. 14,500-15,000 crores. The Adani Group company said total capital expenditure during the year was Rs. 4,000-4,500 crore is expected. Adani Ports handled 240 MMT of cargo in April-October, compared to its FY2024 guidance of 370-390 MMT.
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