汇丰银行-印度港口业-india ports 1qfy18 grew a t5.0％；coal remains a drag-20170707-hsbc.pdfVIP

7 July 2017   India Ports EQUITIES MARINE 1QFY18 grew at 5.0%; coal remains a drag India  Major ports growth slowed to 4.0% y-o-y in June from 4.9% in Parash Jain* May on sharp decline in coal and slowdown in container Head of Transport Research, Asia-Pacific The Hongkong and Shanghai Banking Corporation Limited parashjain@.hk  Slightly stronger momentum in 1QFY18 on receding impact of +852 2996 6717 demonetisation; a low base should lift growth in the 2QFY18 Louis Pang* Associate  We continue to prefer ADSEZ (Buy) to GPPV (Reduce) The Hongkong and Shanghai Banking Corporation Limited louis.w.h.pang@.hk +852 2914 9934 India major ports’ throughput growth slowed to 4.0% y-o-y in June from 4.9% in * Employed by a non-US affil