ICICI Direct has given Buy recommendation for Gujarat Pipavav with a target price of Rs. 105 in its research report issued on May 24, 2022

ICICI Direct’s research report on Gujarat Pipavav

Gujarat Pipavav (GPPL) is a south-west Gujarat based port with an MNC promoter (APM Terminals – Maersk Group). It lies at a strategic international maritime location, which connects India with the Far East, on the one side, and Middle East, Africa, Europe and the US, on the other. The port container capacity is at 1.35 million TeUs, bulk capacity at 4-5 million MT and liquid capacity at 2 million MT • Container segment comprises ~70% of revenues.


We remain positive on the stock and maintain our BUY recommendation. We value the stock at Rs 105 i.e. 16x P/E on FY24E EPS.

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