Kotak maintains buy on Adani Ports and Special Economic Zone
Kotak has revised target
price on the stock to Rs 425 from Rs 360 earlier. We expect the company
to report 11.5 per cent volume CAGR over FY17 to FY19E, sustain the
current level of EBIDTA margin and further improve its balance - sheet
with strong free cash flow generation of Rs 1,000 crore per annum.
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