Adani Port - Diwali Picks 2012 - Kotak

CMP - Rs.130, Current TP - Rs.156

- ADSEZ has outlined aggressive plans to emerge as one of the largest private port operators in India.

- Total cargo handling capacity for the company in India is expected to increase from 150mn tons currently to 225mn tons by FY14E.

- As a large portion of the volumes is linked to energy imports, we expect volumes for the port to grow at 18% CAGR to 90mn tons by FY14E.

- Stock is trading at very attractive valuations of about 13.3x on FY14 estimates.

Source : Equity Bulls

Keywords