Adani Ports share price: Buy Adani Ports, target price Rs 855: Edelweiss

Edelweiss has buy call on with a target price of Rs 855. The current market price of Adani Ports is Rs 818. Time period given by analyst is Intra Day when Adani Ports price can reach defined target.

Adani Ports & Special Economic Zone Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 162174.43 Crore) operating in Shipping sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4072.42 Crore, down -4.73 % from last quarter Total Income of Rs 4274.79 Crore and up 21.20 % from last year same quarter Total Income of Rs 3360.17 Crore. Company reported net profit after tax of Rs 1327.15 Crore in latest quarter.

Investment Rationale
Has broken out above upper end of consolidation. Volumes recorded on breakout highest in 10 days


Promoter/FII Holdings
Promoters held 63.6 per cent stake in the company as of June 30, 2020, while FIIs held 17.1 per cent, DIIs 4.3 per cent and public and others 15.1 per cent.

(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)

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