Credit Suisse initiated coverage on Gujarat Pipavav Port stock with an outperform rating and a target price of Rs 66,citing high entry barriers in the container business,a stronger balance sheet and risk-reward versus peers.
GPPV is leveraged to the fastest growing cargo segment in India -containers,and is highly exposed to the Asia trade route,Credit Suisse said in a note.
The research house said a strong parent in Maersk Lines gives the company critical mass of volume and visibility.
At 09:24 a.m,shares of Gujarat Pipavav were up 1.58 percent at Rs 58.
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