Adani Ports reverses yesterday's losses to gain over 3% today. Company had yesterday clarified that they are prepared with Haifa Port business continuity plan that will enable the company to respond effectively. They also clarified that the overall contribution of Haifa in Adani Port's numbers is relatively small at 3% of total cargo volume. Motilal Oswal has initiated coverage on Adani Ports with a target of Rs 1010 per share. They believe that the company is well placed to post 12% volume CAGR over FY23-25 and consequently, 15% CAGR in both revenue and EBITDA. CLSA meanwhile says that war fears presents an even better buying opportunity. Haifa located in the North versus Gaza in South, so disruptions are likely to be minimal. Valuations too look appealing; with Adani ports trading at a 43% discount on FY25CL PE to Concor.
#adaniport #stocksonthemove #stocknews
Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3
1