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    Buy Gujarat Pipavav Port, target price Rs 110: ICICI Direct

    Synopsis

    Gujarat Pipavav Port Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 4421.06 Crore) operating in Shipping sector.

    portReuters
    Promoters held 44.01 per cent stake in the company as of 31-Mar-2022, while FIIs owned 22.78 per cent, DIIs 21.34 per cent.
    ICICI Direct has buy call on Gujarat Pipavav Port with a target price of Rs 110. The current market price of Gujarat Pipavav Port is Rs 91.5. Time period given by analyst is one year when Gujarat Pipavav Port Ltd. price can reach defined target.

    Gujarat Pipavav Port Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 4421.06 Crore) operating in Shipping sector.

    Gujarat Pipavav Port Ltd. key Products/Revenue Segments include Income from Port Services and Other Operating Revenue for the year ending 31-Mar-2022.


    Financials
    For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 216.98 Crore, down -4.73 % from last quarter Total Income of Rs 227.74 Crore and up 29.98 % from last year same quarter Total Income of Rs 166.93 Crore. Company reported net profit after tax of Rs 57.52 Crore in latest quarter.

    Investment Rationale
    Higher Exim movement and modernisation of cargo checks would help in better turnaround times for exporters and, therefore, enhance stickiness of cargo volumes for the company. GPPL has the highest rail quotient (~70%) among all ports while improved port connectivity through feeder rail routes would be positive for the company

    Promoter/FII Holdings
    Promoters held 44.01 per cent stake in the company as of 31-Mar-2022, while FIIs owned 22.78 per cent, DIIs 21.34 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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