Shares of billionaire Gautam Adani-led Adani Ports and Special Economic Zone (APSEZ) fell nearly 4% to Rs 771 in Monday’s trade on BSE after the auditing firm Deloitte resigned as its auditor. Deloitte’s resignation comes after it asked Adani Ports to conduct an independent inquiry on related party transactions flagged by Hindenburg but the company … Read more
Adani Ports and Special Economic Zone shares have a potential upside of 11-22%, according to estimates of top brokerages. The views come on the back of strong June quarter earnings posted by the Gujarat-based port operator. Estimating that double-digit growth would continue, Jefferies revised its stock price target upwards while recommending a buy. Domestic brokerages … Read more
Stating strong September quarter results, global brokerage Nomura maintained its buy rating on with a target price of Rs 1,025, implying an upside potential of 23% from the current market price of Rs 832. Adani Ports delivered strong topline sales growth at 33% year-on-year (YoY) at Rs 5,210 crore, which was 8%/13% higher than Nomura/consensus … Read more