“With Adani Ports joining the S&P BSE Sensex, investors are evaluating whether to explore the new entry or wait. With a market cap of Rs 3,20,932 crore, Adani Ports is a leading player in the Indian Post and logistics space. It has delivered nearly 99.24% return within a year and offered a dividend of 0.34%, with an ROE of 15.32%. The company generates 90.43% of its revenue from ports and the rest from other business divisions. Notably, its Net Profit recorded a YoY growth of 76.2% at Rs.2,039 crore, while its Net Operating Profit stood at Rs.4,029 following a Y-OY growth of 23.2%. On the other hand, the company stock has a PE ratio of 9.57, at par with the sector average, suggesting a fair valuation. Also, the 6.06 PB ratio says the company is trading higher than its book value, making it risky. However, it’s worth the risk given Adani Ports’ multifold growth potential in a business category where it’s one of the biggest stakeholders to date. Based on technical analysis, the stock was seen trading with an RSI of 56 on daily, 66 on weekly, and 80 on the monthly frame, suggesting a potential pullback and retesting of the price at the Rs. 1,310-1,390 range. Amid these developments, individuals may consider entering the stock at Rs 1,310-1,390 for a target of Rs. 1,500-2,000.” said VLA Ambala, SEBI Registered RA & Co-Founder of SMT
Adani Ports Share Price Highlights 24 June 2024: Adani Ports enters BSE Sensex, stock declines
