ADANI PORTS stocks: Buy Adani Ports & Special Economic Zone, target price Rs 835: ICICI Direct

ICICI Direct has buy call on Adani Ports & Special Economic Zone with a target price of Rs 835. The current market price of & Special Economic Zone is Rs 801.15. 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 169253.91 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 for the year ending 31-Mar-2022.

Financials

For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 4417.87 Crore, down -.11 % from last quarter Total Income of Rs 4422.73 Crore and up 8.48 % from last year same quarter Total Income of Rs 4072.42 Crore. Company reported net profit after tax of Rs 970.47 Crore in latest quarter.

Investment Rationale
Breakout above last 10 weeks range with base around 52 weeks EMA and MACD in buy mode.

Promoter/FII Holdings
Promoters held 66.02 per cent stake in the company as of 30-Jun-2022, while FIIs owned 14.24 per cent, DIIs 15.05 per cent.