ICICI Direct has given Buy recommendation for Adani Ports and SEZ with a target price of Rs. 900 in its research report issued on Feb 03, 2021

ICICI Direct’s research report on Adani Ports and SEZ

Adani Ports and Special Economic Zone (APSEZ) is the largest commercial port operator with 25% share of India’s port cargo movement. The company has evolved from a single port dealing in a single commodity to an integrated logistics platform. Total ~70% of APSEZ revenues is contributed by its port operations. Rest is led by harbour (11%), logistics (7%) and others Of the total 247 MT cargo volume in FY21, container volumes were at 105 MT (43%), bulk at 110 MT (44%) and rest by liquid at 32 MT (13%)

Outlook

We remain positive on the long term growth prospects of the stock and maintain our BUY recommendation We value the stock at Rs 900 on an SOTP basis

 

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