Adani Ports clarifies on Vizhinjam Port expansion; shares rise nearly 5%

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday issued a clarification regarding a media report on the expansion of the Vizhinjam Port in Kerala.

"This is in response to your email dated January 27, 2026, seeking clarification on the news item published, titled 'Adani commits Rs 16,000 cr to expand Vizhinjam Port, Kerala's largest private investment'," the company said in its statement.

"In this regard, we wish to inform you that the Company had entered into a concession agreement in 2015 for the development in two phases, following which their operation and maintenance of the Vizhinjam International Deepwater Multipurpose Seaport Project under the Public–Private Partnership (PPP) model on a DBFOT basis," it added.

The firm further stated, "The Company intimated the completion of Phase 1 in 2024, following which, Phase 2 is being undertaken. On a related matter, the Company has, vide a notice dated January 5, 2026, convened an Extra-ordinary General Meeting (EoGM) on February 2, 2026, to inter-alia, seek approval of the shareholders for awarding EPC contract for Phase 2. The notice of EoGM carries details relating to Phase 2, hence this information is already in public domain."

Following the clarification, shares of Adani Ports surged 4.64 per cent to hit a high of Rs 1,368.30. The stock saw heavy trading volumes, with around 1.59 lakh shares changing hands, compared with a two-week average volume of about 77,000 shares.

The turnover on the counter stood at Rs 21.47 crore, while the company's market capitalisation (m-cap) was at Rs 3,14,041.14 crore.

As of December 2025, promoters held a 68.02 per cent stake in the Gautam Adani-led company.