Adani Ports shares jump 4% after Q2 beat as analysts issue buy calls

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Stock opened at ₹1,797, hit ₹1,840 intraday high, with trades worth ₹778.73 crore and over 42 lakh shares traded by noon

By Anupama Ghosh

Updated - October 29, 2026 at 03:29 PM.

The surge comes as brokerage upgrades and target price revisions following Q2 FY27 earnings. | Photo Credit: iStockphoto

Shares of Adani Ports and Special Economic Zone (APSEZ) surged sharply on Thursday, trading at ₹1,851 on the NSE by mid-morning, up ₹68.40 or 3.88 per cent from Wednesday’s close of ₹1,761.30, as the market reacted to strong quarterly results declared after trading hours the previous day. The stock opened at ₹1,797, touched an intraday high of ₹1,840, and had clocked trades worth ₹778.73 crore by around noon, with over 42 lakh shares changing hands. Buy orders outpaced sell orders, with 50.94 per cent of quoted quantity on the buy side.

The surge comes as brokerage upgrades and target price revisions following Q2 FY27 earnings. Motilal Oswal retained its Buy rating with a target of ₹2,130, implying 21 per cent upside from Wednesday’s closing price, projecting a revenue-EBITDA-PAT CAGR of 17 per cent, 18 per cent, and 21 per cent respectively through FY28. JM Financial upgraded the stock to Buy from a prior cautious stance, setting a target of ₹2,065, citing higher-than-expected international port profitability and Mundra’s robust performance. Elara Securities also upgraded to Buy from Accumulate, raising its DCF-based target to ₹2,107 from ₹1,883, lifting FY28 and FY29 earnings estimates by 2.5 per cent and 7.8 per cent.

The bullish analyst sentiment stems from APSEZ’s Q2 FY27 consolidated results, which showed revenue rising 24 per cent year-on-year to ₹11,340 crore, EBITDA climbing 23 per cent to ₹6,807 crore, and profit after tax up 18 per cent to ₹3,682 crore. The standout was the international ports segment, where EBITDA surged 236 per cent year-on-year, with margins hitting a record 47.7 per cent, driven by the Colombo West International Terminal ramp-up and the consolidated contribution from the North Queensland Export Terminal in Australia.

Management also raised its FY27 revenue guidance by ₹1,000 crore to ₹44,000–46,000 crore, EBITDA guidance to ₹26,000–27,000 crore, and lifted capex guidance by ₹3,000 crore to ₹15,000–17,000 crore.

At the current price of ₹1,851, the stock trades at a trailing P/E of 29.66 and remains about 2 per cent below its 52-week high of ₹1,891.10 hit in July.

Published on October 29, 2026

Companies to follow

• Adani Ports & Special Economic Zone Ltd

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