• Source:JMD
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Adani Ports stock:  Experts appear optimistic about the shares of Gautam Adani Group company – Adani Ports and Special Economic Zone Limited (APSEZ). Brokerage Motilal Oswal has advised to buy Adani's shares, the brokerage firm has set the target price for the stock. Meanwhile, Adani ports closed at 1338.50 up by 0.75 percent on Tuesday.

What did the brokerage say?

According to the brokerage, Adani Ports is continuously improving its balance sheet position with strong cash flows. This Adani Group company has a large market share due to its operational efficiency and cargo versatility. Motilal Oswal has set a target price of Rs 1590 for the share. With this, it has maintained its 'Buy' rating on the stock. On Tuesday, shares of Adani Ports rose 0.75 percent to Rs 1338.50 on BSE. At this price, Motilal's target price for Adani Ports shows a potential upside of about 20 percent.

Adani Ports is focused on reducing debt

Domestic brokerages believe that Adani Ports' cash flow from operations could grow by 13 percent annually during FY24-26. It believes this will be used to finance capital expenditure and reduce debt.

Adani Ports handled a record 42 crore tonnes of freight in the financial year 2023-24 and Cargo handled by India's largest private port operator grew by 24 percent year-on-year including international port. The company's domestic ports handled over 408 million tonnes of cargo in the same financial year. The company handled approximately 1.43 crore freight movements in 2014. It managed Rs 4.28 crore in March 2024, showing a three-fold increase.

Note: This is not an advice for investing. please take an expert view before investing.

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