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    ADANIPORTS   INE742F01042

ADANI PORTS & SPECIAL ECONOMIC ZONE LIMITED

(ADANIPORTS)
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Indian shares end higher as Reliance gains; inflation data in focus

06/14/2021 | 06:39am EDT
FILE PHOTO: A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai

BENGALURU (Reuters) - Indian shares closed higher on Monday, boosted by conglomerate Reliance Industries Ltd and software major Infosys Ltd, while investors eyed more inflation data due later in the day.

The blue-chip NSE Nifty 50 index ended 0.08% higher at 15,811.85, while the benchmark S&P BSE Sensex rose 0.15% to 52,551.53 at close.

On traders' radar is consumer price inflation (CPI) data after market close on Monday, with a Reuters poll showing India's retail inflation likely rose last month after a three-month low in April on higher food and energy prices.

In Mumbai trading, Reliance Industries and Infosys were among the top performers on the Nifty 50, gaining 1.4% and 0.9%, respectively. Reliance shares have gained in five of the last eight sessions. The Nifty IT index, which rose 4.52% last week, added 0.34%.

Limiting gains was top Nifty 50 loser Adani Ports and Special Economic Zone Ltd, which slumped 8.5%. The National Securities Depository Ltd has frozen the accounts of three foreign funds that have invested 435 billion rupees ($5.94 billion) in Adani group companies, the Economic Times reported https://economictimes.indiatimes.com/markets/stocks/news/a/cs-of-3-fpis-owning-adani-shares-frozen/articleshow/83496483.cms.

Adani Enterprises, the conglomerate's flagship company, ended 6.3% lower. The companies had earlier reduced some losses after they said https://bit.ly/2TtKVfq the report was "erroneous".

Among other notable losers, Lupin Ltd fell 3.1% after the drugmaker said https://bit.ly/3xitgWF it received a warning letter from the U.S. Food and Drug Administration on its New Jersey facility.

Investors are also keeping a tab on the U.S. Federal Reserve's policy meeting this week, with many expecting the central bank to maintain its dovish stance. Some Fed board members, however, have said the central bank should start discussing tapering its bond-buying.

($1 = 73.2550 Indian rupees)

(Reporting by Rama Venkat in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2021
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Financials
Sales 2022 169 B 2 278 M 2 278 M
Net income 2022 63 213 M 850 M 850 M
Net Debt 2022 291 B 3 919 M 3 919 M
P/E ratio 2022 22,0x
Yield 2022 0,98%
Capitalization 1 377 B 18 523 M 18 526 M
EV / Sales 2022 9,85x
EV / Sales 2023 7,95x
Nbr of Employees 2 773
Free-Float 20,5%
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 674,50 INR
Average target price 830,60 INR
Spread / Average Target 23,1%
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Managers and Directors
Karan Gautambhai Adani Chief Executive Officer & Executive Director
Gautambhai Shantilal Adani Chairman & Managing Director
Kamlesh Prabhudas Bhagia Secretary & Compliance Officer
Gopal Krishna Pillai Independent Non-Executive Director
Bharat Kanaiyalal Sheth Independent Non-Executive Director