Adani Port Share Price Surge by 3.5% to Rs 1,425
On Tuesday, Adani Ports and Special Economic Zone Limited shares were trading at Rs 1,425, up by 3.5%. However, the company’s shares were slightly lower yesterday.
Brokerage firm City has given a positive response to Adani Ports and Special Economic Zone Limited shares. According to experts, Adani Ports will announce strong results in the March 2024 quarter.
Adani Ports’ share was trading at Rs 1,396 on Wednesday, April 3, with a decrease of 0.58%. On Thursday, April 4, the share was trading at Rs 1,391, down by 0.43%.
The firm has advised investors to buy shares of Adani Ports with a ‘Buy’ rating. Analysts believe that the company’s shares could go up to Rs 1,758, potentially giving investors a 28% profit in the short term.
Brokerage firm Morgan Stanley has set a target price of Rs 1,576 for the shares.
Adani Ports is expected to report positive results in the March 2024 quarter, including revenue growth, EBITDA increase, and improved cash flow. Due to strong volume growth, the company is expected to record a 29% increase in EBITDA YoY.
The company’s 52-week high for shares was Rs 1,425. The market capitalization of the company is over Rs 3 lakh crore. In Monday’s trading session, the company’s shares closed at Rs 1,376.05.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
