Stocks of the day: Bharti Airtel, Adani Ports

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Adani ports and special economic zone

Photo credit: adaniports

Stock prices spurt by 9 per cent to close the day at 319.7 Rs.

Candlesticks analysis is showing bullish pattern formation with strong volume.

Stock is likely to witness some resistant around 320 and 340 on further up move.Downside stock have support around 292-294.

On Monday the company said its subsidiary Adani Logistics is still in talks to buy Gateway Distripark Ltd’s (GDL) 40.25 per cent stake in Snowman Logistics.

Today, Adani Ports and Special Economic Zone Limited informed the Exchange regarding ‘Company Profile’:

Adani Ports and Special Economic Zone Limited (APSEZL) is the India’s largest commercial port company with over 25% market share.

It is also among the top 5 fastest growing port players in the world and has been registering a remarkable 19% CAGR growth over the last 10 years.

Its flagship multi-commodity port at Mundra is not only the largest commercial port in the country, but is also an emerging integrated industrial area.

APSEZL is among the top 50 Nifty companies and has retained consistent investment grade since FY16.

Fitch Ratings and S&P Global Ratings which gave BBB- rating with stable outlook and Moody s Investor Service which gave Baa3 with a similar outlook.

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