Well positioned to surpass revised guidance of FY24

Company
12 Mar 2024
5 Min read 
  • Adani Ports & SEZ (APSEZ) is well positioned to surpass its revised cargo volume guidance for FY24.
  •  APSEZ recorded a strong YoY growth of 24% in cargo volume for the first 11 months of FY24.
  •  The logistics business of APSEZ is performing well, with a 21% YoY growth in rail volume.
  •  APSEZ has a strong market presence, pricing power, and a high proportion of sticky cargo.
  •  The company is continuously investing in infrastructure to improve long-term cash flows and earnings.
  •  The target price for APSEZ is revised to INR1,600 with a BUY rating.
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