03 Sep , 2026 By : Debdeep Gupta
Adani Ports and Special Economic Zone shares jumped 2 percent in early trade on September 3, emerging as the top Nifty 50 gainer after record August cargo volumes and strong year-to-date growth reinforced the bullish outlook for the ports and logistics major.
The Adani Ports and SEZ stock rose to around Rs 1,707, extending its gains from the previous session. The shares have now climbed 14.9 percent so far in 2026, sharply outperforming the Nifty 50, which is down 8.4 percent over the same period. The company’s market capitalisation stood at around Rs 3.93 lakh crore.
The gains also outpaced a positive broader market. At 9:22 am, the Nifty 50 was up 61 points, or 0.25 percent, at 23,975, while the Sensex gained 220 points to 76,790. Market breadth was firmly positive, with 2,094 shares advancing against 681 declines.
HSBC maintained its 'buy' call on Adani Ports with a target price of Rs 2,200 per share, implying an upside of nearly 32 percent from the previous close. The brokerage highlighted that Adani Ports' cargo throughput hit a record 50 million metric tonnes (MMT) in August, growing 19 percent year-on-year and accelerating from 15 percent growth in July. The August performance marked the company's highest-ever monthly cargo volume.
HSBC said that cargo growth for the second quarter so far stands at 17 percent year-on-year, ahead of its estimate of 16 percent. Growth for the April-August period was also stronger than expected at 16 percent, compared with the brokerage's FY27 estimate of 14 percent.
Adani Ports had said that August growth was driven by a 25 percent year-on-year increase in dry cargo and a 15 percent rise in containers. During April-August, the company handled 234.4 MMT of cargo, up 16 percent year-on-year, led by 17 percent growth in dry cargo and 15 percent growth in containers.
However, HSBC flagged a potential near-term risk from the empty container yard strike at Mundra, which could lead to congestion. The brokerage said that Mundra's container operations are significant for Adani Ports, accounting for 24 percent of the company's overall throughput and 54 percent of its container volumes.
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