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Adani Ports gain on brokerages upgrade

The stock was up 3% at Rs 427 as compared to 0.27% rise in the Sensex at 12:33 PM

Adani Ports gain on brokerages upgrade

Adani Ports and Special Economic Zone (APSEZ) was up 4% to Rs 430 on Friday, erasing most of its yesterday’s loss on BSE, after the brokerages upgrade the stock post December quarter (Q3FY18) results. On Thursday, the stock ended 4.4% lower at Rs 414 on BSE. APSEZ has posted an 18% year-on-year (yoy) increase in consolidated net profit for the third quarter of 2017-18 financial year to Rs 9.94 billion while its consolidated income from operations grew 22% for the same period. Consolidated operating EBITDA (earnings before interest, tax, depreciation and amortization) ...