Buy Adani Ports & Special Economic Zone, target price Rs 915: ICICI Direct

ICICI Direct has buy call on Adani Ports & Special Economic Zone with a target price of Rs 915. The current market price of Adani Ports & Special Economic Zone is Rs 848.85. Time period given by analyst is 3 months when Adani Ports & Special Economic Zone Ltd. 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 172908.31 Crore) operating in Shipping sector.

Adani Ports & Special Economic Zone Ltd. key Products/Revenue Segments include Income from Port Services, Infrastructure Leasing Income, Other Operating Revenue and Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 4422.73 Crore, up 8.75 % from last quarter Total Income of Rs 4066.78 Crore and up 3.46 % from last year same quarter Total Income of Rs 4274.79 Crore. Company reported net profit after tax of Rs 1423.15 Crore in latest quarter.

Investment Rationale
The brokerage expects the stock to accelerate upward momentum and gradually head towards Rs 915 in coming months as it is the 161.8% external retracement of the October February decline (Rs 830-652).

Promoter/FII Holdings
Promoters held 63.83 per cent stake in the company as of 31-Dec-2021, while FIIs owned 15.27 per cent, DIIs 15.87 per cent.