Motilal Oswal Advocates Buying Adani Ports, Sets Target Price at Rs 1010

Motilal Oswal, a reputable financial services firm, is recommending the purchase of Adani Ports & Special Economic Zone Ltd., with a target price of Rs 1010. At present, Adani Ports & Special Economic Zone Ltd. is trading at a market price of Rs 823.05.

Adani Ports & Special Economic Zone Ltd., established in 1998, is classified as a Large Cap company within the Shipping sector. The company holds a substantial market capitalization of Rs 177,693.03 Crore.

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The key Products/Revenue Segments of Adani Ports & Special Economic Zone Ltd. comprise Income from Port Services, Infrastructure Leasing Income, and Other Operating Revenue for the fiscal year ending on March 31, 2022.

For the quarter concluding on June 30, 2023, the company reported a Consolidated Total Income of Rs 6631.23 Crore. This reflects an increase of 7.32% compared to the Total Income of Rs 6179.12 Crore in the preceding quarter and a notable surge of 30.04% compared to the Total Income of Rs 5099.25 Crore in the same quarter of the previous year. Additionally, the company achieved a net profit after tax amounting to Rs 2194.63 Crore in the latest quarter.

As of September 30, 2023, the promoters held a 65.53% stake in the company, while FIIs (Foreign Institutional Investors) owned 13.83%, and DIIs (Domestic Institutional Investors) held 13.22% of the company.

Motilal Oswal’s buy recommendation for Adani Ports & Special Economic Zone underscores their positive assessment of the stock, indicating the potential for growth and offering investors an opportunity to consider.