Adani Ports execution capabilities and proven track record of volume ramp-up, providing confidence in cargo growth visibility, said Nuvama Institutional Equities.
Adani Ports share price today: Adani Ports shares were trading over 1% lower at Rs 729.35 in early deals today against the previous close of Rs 737.45 on BSE. The stock fell today after three sessions of rally.
Adani Ports owners reported a consolidated net profit of ₹1,158.88 crore in Q4FY23, up 5.1% YoY, with revenue growing 40% to ₹5,797 crore and EBITDA rising 59% to ₹3,270.7 crore.
Shares of Adani Ports fell over 3 percent today after the Adani Group firm reported a 21 percent decline in net profit for the March 2022 quarter. The stock opened with a loss of 2.04 percent at Rs 736.50 against the previous close of Rs 751.80 on BSE.
Adani Ports share rose nearly 3% ahead of the firm s Q4 earnings set to be announced today. Share of Adani Ports touched an intraday high of Rs 781.85, rising 2.71% on BSE.