Kotak Institutional Equities raised Adani Ports' target price to ₹1,650 due to strong growth and cost advantage.
Kotak Institutional Equities raised Adani Ports' target price to ₹1,650 from ₹1,550 due to the company's strong growth and competitive advantage in cost of capacity expansion. Adani Ports grew its volumes by 14% year-on-year, while the Indian market experienced low-to-mid single-digit growth. The company's potential to expand existing capacity five to six times over time contributes to the target price increase.
June 14, 2024
4 Articles