Adani Ports shares gain 10% since Q2 earnings, approach Rs 2,000 mark; what's next?

Shares of Adani Ports are set to hit the Rs 2,000 mark post after Q2 earnings beat consensus estimates. Adani Ports shares have gained 10% since Q2 earning were announced on October 28. The stock hit a record high of Rs 1,961.85 on November 8. The Adani Group stock trades higher than all the short term and long term simple moving averages. It trades near the overbought zone since the RSI of the stock stands at 68.6.

The Adani Group stock has gained 31% in 2026. In the current session, the stock fell nearly 1% to Rs 1933 on BSE.

Adani Ports stock has doubled investor wealth in three years with returns of 140%. Market cap of the firm stood at Rs 4.47 lakh crore. The Adani Group stock has seen high volatility in the last one year with its beta at 1.32.

ICICI Securities has a price target of Rs 2210 on the Adani Ports stock.

The Adani Group targets to grow its revenues/ EBITDA/ net CFO at a CAGR of 19%/18%/18% over FY26-FY31. The brokerage recommended a buy call with a target price of Rs 2210 on the stock.

Adani Ports stock is set to hit the Rs 2432 mark against the previous target of Rs 2107, said Elara Capital.

"While we are yet to factor in the acquisition in our estimates, the transaction enhances visibility on long-term shareholder value creation via building of a globally diversified, integrated ports & liquid storage platform and energy transition infrastructure. We maintain our estimates and roll forward to FY29E with a higher target price of Rs 2,432 from Rs 2,107, at an implied EV/EBITDA of 18x (unchanged) – Buy," said Elara Capital.

Brokerage JM Financial has a price target of Rs 2065 on the stock.

"The stock trades at 15x FY28E EV EBITDA; maintain BUY with target price of Rs 2,065: We value ADSEZ’s various assets on a DCF basis along with a terminal value (depreciated replacement value) payable by authorities at the end of the concession period, unless the concessionaire is further extended. Our EV valuation is an SotP of the value of these assets. Our TP of INR 2,065 implies ~16x FY28E EV/EBITDA; maintain BUY," said JM Financial.