Buy Adani Ports and SEZ ; target of Rs 900: ICICI Direct

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

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ICICI Direct's research report on Adani Ports and SEZ

Adani Ports and Special Economic Zone (APSEZ) is the largest commercial port operator with 25% share of India’s port cargo movement. The company has evolved from a single port dealing in a single commodity to an integrated logistics platform. Total ~70% of APSEZ revenues is contributed by its port operations. Rest is led by harbour (11%), logistics (7%) and others • Of the total 247 MT cargo volume in FY21, container volumes were at 105 MT (43%), bulk at 110 MT (44%) and rest by liquid at 32 MT (13%).

Outlook

We remain positive on the long term growth prospects of the stock and maintain our BUY recommendation.

For all recommendations report, click here

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