Suspense crime, Digital Desk : Shares of Adani Ports and Special Economic Zone (APSEZ) experienced a notable uptick of around 2% in today’s trading session, buoyed by a positive outlook from leading domestic brokerage firm Motilal Oswal Financial Services. The firm has maintained its ‘buy’ rating on the stock, citing strong growth prospects and setting an optimistic target price.

Motilal Oswal has projected a target price of Rs 1,730 per share for Adani Ports. This suggests a potential upside of over 20% from its recent trading levels, indicating confidence in the company’s continued performance.

The brokerage’s bullish stance is underpinned by several factors. They highlight Adani Ports’ robust cargo handling volumes, which have been consistently strong. Furthermore, improvements in operational efficiency and the company’s strategic efforts towards diversification of its cargo mix and geographical presence are seen as key growth drivers. Motilal Oswal believes that Adani Ports is well-positioned to benefit from India’s expanding trade and the increasing demand for efficient logistics infrastructure.

The positive sentiment extended to other Adani Group stocks as well, with several counters witnessing buying interest. This reflects a broader investor confidence in the conglomerate’s outlook, particularly for its flagship ports business.

Investors will be closely watching Adani Ports’ ability to achieve the projected growth in cargo volumes and maintain its operational excellence to reach the target price set by Motilal Oswal. The brokerage’s report adds to a series of positive assessments for the company from various market analysts.

Read More: Adani Ports Shares Climb as Brokerage Firm Motilal Oswal Reiterates ‘Buy’ Call, Sees Further Upside