Buy Gujarat Pipavav Port, target price Rs 120: ICICI Direct

ICICI Direct has a buy call on Gujarat Pipavav Port Ltd. with a target price of Rs 120. The current price of Gujarat Pipavav Port Ltd. is Rs 113.3. Time period given by the analyst is Intra Day when Gujarat Pipavav Port Ltd. price can reach defined target.

Gujarat Pipavav Port Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 5397.61 Crore) operating in Shipping sector.

Gujarat Pipavav Port Ltd. key Products/Revenue Segments include Income from Port Services and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 166.93 Crore, down -17.71 % from last quarter Total Income of Rs 202.86 Crore and down -1.84 % from last year same quarter Total Income of Rs 170.06 Crore. Company reported net profit after tax of Rs 32.16 Crore in latest quarter.

Investment Rationale
Stock rebounding post a higher base above the rising demand line joining last 15 months’ lows

Promoter/FII Holdings
Promoters held 44 per cent stake in the company as of June 30, 2020, while FIIs held 19.5 per cent, DIIs 26 per cent and public and others 10.5 per cent.