Brokerages pick India's Adani Ports as top investment idea on hopes of Modi win

JSW Infrastructure

03/06/2024 06:00

** Shares of Adani Ports and Special Economic Zone  APSE.NS 
rise as much as 12.8% to record high of 1,621.40 rupees
    ** Stock last up 10.5%, top pct gainer on Nifty 50 index
 .NSEI  that also hit record high  .BO 
    ** Brokerages view infrastructure and logistics sector as
key beneficiary after exit polls project third-term for Prime
Minister Narendra Modi's government
    ** Citi and Motilal cite APSE as top investment ideas and
beneficiaries from policy continuity; BofA Securities sees
logistics sector as "near-term" beneficiary
    ** Around 15.2 mln shares traded, 3.5x 30-day avg volume
    ** Analysts' avg recommendation on APSE is a "buy", same as
smaller peer JSW Infrastructure  JSWN.NS  - LSEG data
    ** APSE up 56.5% so far this year, top performer on Nifty 50
index that is up 6.7%

 (Reporting by Nandan Mandayam and Kashish Tandon in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))