Sensex Today | Stock Market LIVE Updates: MOSL on Adani Ports | With operational ramp up at ports acquired in the last few years, we expect APSEZ to register 13% volume growth over FY23-25 and revenue/EBITDA/PAT CAGR of 20%/17%/12% over the same period. We have raised our EBITDA estimate by ~10%/3% for FY24/FY25 to incorporate the improved outlook in ports and logistics business. We reiterate our BUY rating with a revised TP of INR1,050 (based of 15x FY25E EV/EBITDA).