Adani Ports and Special Economic Zone

Stock market today: Trade setup for Nifty 50, five stocks to buy or sell on Thursday – June 20

Stock market today: Trade setup for Nifty 50, five stocks to buy or sell on Thursday – June 20

Broader markets also lagged benchmarks, with the Nifty Midcap 50 down 0.95% and the Nifty Smallcap Index down 0.46%. Also Read: Indian stock market: 7 key things that changed for market overnight - Gift Nifty, Asian markets to oil prices However, according to market analysts, the significant positive takeaway was that short covering and value buying propelled Bank Nifty, which completely outperformed the benchmark Nifty 50 and, more crucially, scaled a new all-time high of 5,1957. According to Vinod Nair, Head of Research at Geojit Financial Services, the domestic market has begun on a positive note, owing to an earlier…
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InCred Equities downgrades Adani Ports stock to a ‘reduce’ on rich valuation

InCred Equities downgrades Adani Ports stock to a ‘reduce’ on rich valuation

Financial firm InCred Equities has downgraded Adani Ports and Special Economic Zone stock to a 'reduce' from a 'hold' earlier with an unchanged target price of ₹1,329 apiece, primarily due to the steep valuation of the stock. In a report on June 17, InCred Equities pointed out that Adani Ports stock trades at 18.2 times FY25F EV/EBITDA versus six-year average one-year forward EV/EBITDA of 14.1 times. The brokerage firm cut its EBITDA estimates for FY25/26F by 3 per cent each but maintained its target price of ₹1,329. It said its target price implies 15 times FY26F EV/EBITDA. EV/EBITDA (enterprise value…
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