Shares of Adani Ports & Special Economic Zone Ltd. will be in focus heading into trade on Wednesday after brokerages offered a bullish view on the company following the release of its third-quarter earnings for the financial year ending March 2026.
Investec notably hiked the target price on Adani Ports, citing a strong Ebitda beat and a steady quarter, where the company also increased the FY26 Ebitda and revenue guidance. The brokerage firm maintained a 'buy' call on Adani Ports while hiking the target price from Rs 1,770 to Rs 1,850.
Morgan Stanley, meanwhile, also remained bullish on Adani Ports, notably maintaining an 'overweight' call with a target price of Rs 1,661. Both brokerages are expecting significant upside for Adani Ports from current levels.
This comes on the back of a third-quarter earnings where the company reported a rise of 21% in consolidated net profit to Rs 3,054 crore, compared to Rs 2,520 crore in the corresponding period last year.
The multinational port operator's revenue from operations in the third quarter of the current fiscal rose 22% to Rs 9,705 crore, compared to Rs 7,964 crore in the year-ago period.
Adani Ports Q3 Results (Cons, YoY)
- Net Profit up 21.2% to Rs 3,054 crore Vs Rs 2,520 crore
- Revenue up 21.9% At Rs 9,705 crore Vs Rs 7,964 crore
- EBITDA up 20.5% At Rs 5,786 crore Vs Rs 4,802 crore
- Margin At 59.6% Vs 60.3%
In its latest note, Investec, apart from acknowledging Adani Ports' strong December quarter, also pointed out multiple port expansions while labelling the company as a key beneficiary of the recent trade deals with the United States and the European Union, as it would boost cargo growth in the medium to long-run.
In light of the positive sentiment emanating from the US-India trade deal, coupled with a strong quarter, shares of Adani Ports rose as much as 9.19% in trade on Tuesday, adding Rs 30,000 crore to its market capitalisation.
ALSO READ: Adani Ports Q3 Results: Net Profit Rises 21% To Rs 3,054 Crore, Revenue Up 22% YoY
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