Buy Adani Ports, target price Rs 600: Edelweiss

Adani Ports & Special Economic Zone Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 100937.43 Crore) operating in Shipping sector.

By ETMarkets.com | Updated: Jan 07, 2021, 11.06 AM IST

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.

Edelweiss has buy call on Adani Ports with a target price of Rs 600. The current market price of Adani Ports & Special Economic Zone is Rs 510.55.

Adani Ports & Special Economic Zone Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 100937.43 Crore) operating in Shipping sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2902.52 Crore, up 26.60 % from last quarter Sales of Rs 2292.69 Crore and up 2.88 % from last year same quarter Sales of Rs 2821.16 Crore Company reported net profit after tax of Rs 1396.55 Crore in latest quarter.

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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