NEW DELHI:
Adani Ports June quarter results beat Street estimates but a few analysts felt the management s guidance lacked surprises. Analysts, who see limited positive surprises ahead, have upside targets as low as 5 per cent. Others who see it as a compelling story on India s EXIM play see up to 40 per cent upside on the counter.
On Wednesday, the scrip was trading at Rs 709, up 0,54 per cent. At this level, the scrip is off 21 per cent from its record high of Rs 901 apiece.
Edelweiss said Adani Ports Ebitda came in higher than its expectations led by SEZ revenue and better-than-expected realisations of Rs 441 per tonne. It said the company has further fortified its numero uno position in ports led by strong market share gains and new acquisitions and is fast extending its port gate operations through logistics to become an integrated company.
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