Adani Ports can rally 23% on strong September results, says Nomura

However, management did highlight that land sales prospects are improving, and there exists the potential for significant land sales over the next 2-3 years, though the timing of such sales is uncertain, it added. We view this as a source of upside to our EBITDA estimates with a significant government push to set up manufacturing facilities, said the global brokerage.

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