JM Financial sees earnings, realisations growth for India's Gujarat Pipavav Port

JM Financial

12/12/2023 06:26

** Shares of Gujarat Pipavav Port  GPPL.NS  rise as much as
3.69% to 154.45 rupees on a day 
    ** The tariff hike for EXIM container handling and tranship
container augurs well for co, says JM Financial
    ** The port operator announced tariff revision, effective
from Jan. 1, 2024 earlier this month
    ** Brokerage estimates 2%-3% improvement in blended
realisations; raises earnings per share estimates for fiscal
2024-2026 by 1%-6%
    ** Brokerage hikes PT to 150 rupees from 140 rupees earlier,
reiterates "hold" on the stock
    ** Average rating of 11 analysts tracking GPPL is equivalent
to "Buy"; median TP is 135 rupees - LSEG data
    ** Stock last up 2.3%, bringing YTD gains to 51.37% 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))