Emkay's report on Gujarat PipavavCMA CGM announces new call in Mundra on its Cimex 2N loop (service line called FM- 3), replaces Gujarat Pipavav port. The line will start calling at Container terminal-1 (CT-1) of Mundra Port As per the management the service line gives volume of 70000-80000 teu to Gujarat Pipavav Port (service line includes Maersk, APL Singapore, OOCL, and Hamburg as other partners of the service line) According to us the decision is take by Maersk rather than CMA CGM as Maersk runs 5 vessels and CMA CGM runs 2 vessels in this service line, however management expects to contain some volumes from Maersk and other partners We have reduced our container volumes estimates by 3.7%/6.7% for FY16E/17Edue to which earnings gets revised downwards by 3.5%/6.7%. Our target price gets reduced to Rs176 (V/s earlier of Rs200). Maintain reduce, says karvy research report.For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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