Stake sale at premium valuations a positive for Adani Ports

In addition to volume gains, lower pledges and acquisitions such as Concor would be new triggers

The stock of Adani Ports and SEZ (Adani Ports) hit its all-time high levels intraday after the company announced that Windy Lakeside Investment, an affiliate of Warburg Pincus has taken half a per cent stake via the preferential issue route. The issue priced at Rs 800 a share was made at a 7 per cent premium to Friday’s close. Most brokerages view the deal as a positive outcome.

Analysts at Morgan Stanley while indicating that the deal considers a  stake sale of only 0.5 per cent, it comes at a premium and highlights the confidence of the investor in the