Adani Ports experienced an increase as Goldman Sachs predicts a 25% potential increase.
Last Traded Price : Rs. 641.60
Adani Ports and Special Economic Zone's shares rose almost two percent on April 6 afternoon, following Goldman Sachs maintaining its "buy" rating on the stock. The brokerage firm has set a target price of INR810, implying a 25 percent upside from the current market price.
The company has reported its largest-ever port cargo volumes of approximately 339 million metric ton in FY23, which is up 9% YoY, leading to a recovery in volumes in March 2023. The full-year volume for FY23 is expected to be at 339 metric ton as compared to its estimate of 337 metric ton