Buy Adani Ports, target price Rs 790: ICICI Securities

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Buy Adani Ports, target price Rs 790:  ICICI Securities


has buy call on Adani Ports & Special Economic Zone with a target price of Rs 790. The current market price of Adani Ports & Special Economic Zone is Rs 721.6.

Adani Ports & Special Economic Zone Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 146672.16 Crore) operating in Shipping sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 4274.79 Crore, up 24.88 % from last quarter Total Income of Rs 3423.16 Crore and up 11.60 % from last year same quarter Total Income of Rs 3830.43 Crore. Company reported net profit after tax of Rs 1580.20 Crore in latest quarter.

Investment Rationale
Stock in strong uptrend forming higher peak and trough in all time frame. It has generated a breakout above a falling channel containing last two weeks breather


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.





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