Shares of Adani Ports and Special Economic Zone rebounded after a two-session decline, rising more than 1% to ₹1,812 on Friday after Goldman Sachs reaffirmed its 'Buy' rating on the stock. The brokerage also raised the stock's target price to ₹1,870, citing strong cargo volume growth, recovery in thermal coal volumes, Vizhinjam hub expansion, and improving returns. The upgrade reflects the company's strong volume momentum and improving return on capital employed (ROCE).
According to Goldman Sachs, Adani Ports reported handling 48.3 million metric tonnes (MMT) of cargo volume in May 2026, registering a 16% year-on-year increase. The growth was led by liquid cargo, which rose 33% year-on-year, and containers, which increased 17% from the year-ago period. For the quarter-to-date period, the company handled cargo volumes of 91.4 MMT, up 15% year-on-year and ahead of analyst expectations. The brokerage highlighted that thermal coal volumes are witnessing a recovery and are likely to remain robust during the summer months.
According to reports from CNBC TV18, Adani Ports and Special Economic Zone Limited announced on Friday (June 5) that its step-down subsidiary, The Adani Harbour International FZCO, has incorporated a wholly-owned subsidiary named Harbour International Shipping FZCO in the UAE. The company stated that Harbour International Shipping FZCO was incorporated on June 5, 2026, with an authorised capital of 100 shares of AED 1,000 each. The newly-incorporated entity will undertake ship management and operation activities as part of the company's marine strategy to diversify its fleet globally.
India's largest port operator posted revenue growth of 26% year-on-year to ₹10,737 crore in Q4FY26, as against ₹8,488 crore posted in the corresponding quarter of the previous financial year. The company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in the quarter stood at ₹6,02 crore, up 20% from ₹5,006 crore reported in Q4FY25. Goldman Sachs identified key growth drivers as higher Tata Power-linked coal volumes at Mundra, the ramp-up of operations at the Vizhinjam transhipment hub, growth in liquid cargo at Mundra, and expansion of multimodal logistics parks.
As reported by CNBC TV18, shares of Adani Ports and Special Economic Zone Ltd ended at ₹1,823.10, up by ₹32.60, or 1.82%, on the BSE on June 5. However, the company also reported that logistics rail volumes during May 2026 stood at 48,170 TEUs, down 19% year-on-year. Year-to-date logistics rail volumes stood at 96,660 TEUs, a decline of 18% from the corresponding period last year. Despite the strong cargo performance, the logistics segment continues to face challenges in the current market conditions.
