Adani Ports a defensive stock? Nothing else explains the up move, says Mahantesh Sabarad
“Unlike the Nifty move which was pretty sharp, the valuation uptick was not that sharp, partly because Q1 results were factored in and therefore, when we moved our estimates forward, valuations looked a tad bit better. After this stupendous rally, one should see some bit of moderation in the Nifty levels and I would not be surprised if that moderation continues well into this month as well.”