Adani Ports and Special Economic Zone (Adani Ports and SEZ) has a major contribution in India’s ports sector, after these statements of analysts, its shares have jumped strongly.
A few hours after GQG Partners invested about $ 2 billion in Adani Group, Rajiv Jain said that Adani Group’s airports, ports and energy assets are excellent and available at good prices.
Kotak Institutional Equities said Adani Ports has a strong presence in India’s port sector with attractive features. These features, the brokerage says, include pricing power, privatization possibilities, end-to-end logistics delivery strength.
According to Bloomberg – 21 of the analysts tracking the stock have maintained their ‘buy’ rating on the shares.
Brokerage’s opinion on Adani Port
Kotak Institutional Equities
- 810 to buy advice on the value, the potential to climb up to 30%
- Adani Ports is a major player in India’s port business with attractive features
- Encouraging prospects for growing port portfolio and end-to-end logistics
- Maintained overweight rating on the stock, target price of Rs 697, an upside of 12%
- Stronger-than-expected volume growth, strong earnings growth in Logistics, strong free cash flow
On Thursday, promoters of the Adani Group raised $1.87 billion, or about Rs 15,446 crore, by selling stake in four companies to US-based investment firm GQG Partners.
GQG Partners bought 3.39% in Adani Enterprises Limited, 4.1% in Adani Ports, 2.55% in Adani Transmission Limited and 3.51% in Adani Green Energy Limited from SB Adani Family Trust.
Kotak said, “This may remove concerns about Adani Group’s ability to raise funds to repay the debt of the shares of its listed company.”