Shares of Adani Ports and Special Economic Zone have recovered over 58% from their 52-week low of Rs 394.95, hit on February 3, 2023
Shares of Adani Ports and Special Economic Zone ended 3.5% higher at Rs 623.20 on BSE on Thursday. Market cap of the firm rose to Rs 1,34,619.86 crore
8.86 crore equity shares of Adani Ports & Special Economic Zone worth Rs 5,282.33 crore exchanged hands in the pre-opening session on Thursday. This constitutes about 4.1% equity capital of the company
Adani Ports' net profit slipped 12.94% to Rs 1,336.51 crore during the third quarter ended December 2022 (Q3 FY23) against Rs 1,535.28 crore in the same period a year ago
Shares of Adani Ports and SEZ are down over 37% from their 52-week high of Rs 987.9, hit on September 20, 2022
JM Financial initiated its coverage on Adani Ports & SEZ with a 'buy' rating and a March 2024 target price of Rs 800
Adani Ports delivered supreme market share gains in India in the past decade and saw at least a 10 percentage points gain in total share at 24%. It is expected to sustain that in future with organic and inorganic growth, as per JM Financial
Hindenburg Research, on January 24, published a report accusing the Adani conglomerate of accounting fraud, stock manipulation and other malpractices
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