shares of Adani Port and Special Economic Zone It witnessed a rise of nearly 4% on the National Stock Exchange on Tuesday, reaching an all-time high of Rs 1,213.25. This upheaval is like this Motilal OswalReaffirmed buy rating for the stock, setting a target price of Rs 1,410, indicating 21% upside from Monday’s closing price. The target price is based on 16X FY26E EV/EBITDA.
The stock displayed substantial trading volume as well as positive activity, with around 43.36 lakh shares traded on the NSE till 10:10 am, representing a traded value of Rs 520.15 crore.
According to an ET report, Motilal Oswal stressed that Adani Ports, the largest Indian ports company, has the potential to exceed FY2014 volume expectations. In the October-December 2023 quarter, the company reported 42% YoY volume growth, summarizing 9MFY24 volumes at 311 MMT, a 23% YoY growth YTD.
The brokerage firm indicated, “With a monthly volume run-rate of 35 MMT, management has raised the volume guidance to 400 MMT in FY24 from earlier 370-390 MMT. We expect FY24 volumes to reach 400 MMT. The volumes will also exceed the revised volume guidance of 400 MMT.”
Motilal highlighted APSEZ’s commitment to reach the FY25 port traffic target of 500 MMT compared to 339 MMT in FY23, and predicted volume growth at 1.5 times the GDP growth rate. Additionally, two ports of APSEZ ranked among the top 10 ports of India for annual cargo volume in FY23.
In FY18-23, APSEZ generated consistently strong cash flows from operations, totaling Rs 43,300 crore at a CAGR of 16%. Looking ahead, the focus is on optimizing the acquired assets for continued strong cash flows. Motilal estimates CFO CAGR of 14% in FY23-26.
Adani Ports shares have made a remarkable comeback from a low of Rs 395.10 post the Hindenburg report in January last year, giving returns of over 200%.
The stock displayed substantial trading volume as well as positive activity, with around 43.36 lakh shares traded on the NSE till 10:10 am, representing a traded value of Rs 520.15 crore.
According to an ET report, Motilal Oswal stressed that Adani Ports, the largest Indian ports company, has the potential to exceed FY2014 volume expectations. In the October-December 2023 quarter, the company reported 42% YoY volume growth, summarizing 9MFY24 volumes at 311 MMT, a 23% YoY growth YTD.
The brokerage firm indicated, “With a monthly volume run-rate of 35 MMT, management has raised the volume guidance to 400 MMT in FY24 from earlier 370-390 MMT. We expect FY24 volumes to reach 400 MMT. The volumes will also exceed the revised volume guidance of 400 MMT.”
Motilal highlighted APSEZ’s commitment to reach the FY25 port traffic target of 500 MMT compared to 339 MMT in FY23, and predicted volume growth at 1.5 times the GDP growth rate. Additionally, two ports of APSEZ ranked among the top 10 ports of India for annual cargo volume in FY23.
In FY18-23, APSEZ generated consistently strong cash flows from operations, totaling Rs 43,300 crore at a CAGR of 16%. Looking ahead, the focus is on optimizing the acquired assets for continued strong cash flows. Motilal estimates CFO CAGR of 14% in FY23-26.
Adani Ports shares have made a remarkable comeback from a low of Rs 395.10 post the Hindenburg report in January last year, giving returns of over 200%.
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