Buy Adani Ports & Special Economic Zone, target price Rs 898: ICICI Direct

ICICI Direct has buy call on Adani Ports & Special Economic Zone with a target price of Rs 898. The current market price of Adani Ports & Special Economic Zone is Rs 858.95. Time period given by analyst is Intra Day 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 181569.04 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 yquarter.

Investment Rationale
Breakout above the last six months range (830-652) and MACD in buy mode.

Promoter/FII Holdings
Promoters held 65.55 per cent stake in the company as of 31-Mar-2022, while FIIs owned 14.26 per cent, DIIs 15.32 per cent.