Adani Port may test Rs 225: Jitendra Panda

Jitendra Panda of Peerless Securities is of the view that Adani Port may test Rs 225.

Jitendra Panda of Peerless Securities told CNBC-TV18, "The way the positions are built in Adani Port  and the way the long positions are getting rolled over, we believe that there could be further upside to Rs 225 keeping a stoploss of Rs 200. We are seeing long positions getting built up and certainly we see momentum now and this is where the triggers are going, this is a high beta stock with the current theme. So, we believe the target to look at is Rs 225."

At 13:18 hrs Adani Ports and Special Economic Zone was quoting at Rs 207.10, up Rs 2.30, or 1.12 percent. It has touched a 52-week high of Rs 213.

The share touched its 52-week high Rs 209.40 and 52-week low Rs 118 on 21 April, 2014 and 04 September, 2013, respectively. Currently, it is trading 1.1 percent below its 52-week high and 75.51 percent above its 52-week low. Market capitalisation stands at Rs 42,870.77 crore.

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