Adani Ports Shares Rise 2.5%, Lead Nifty Gainers on Iron Ore MoU with NMDC, Vale Brazil

Adani Ports and Special Economic Zone Sees 2.5% Rise in Share Price

On Monday, Adani Ports and Special Economic Zone shares rose 2.5% in afternoon trade, making it the top gainer on both the Nifty 50 and the BSE Sensex. The company announced a strategic memorandum of understanding with NMDC Limited and Vale S.A. to develop an iron ore blending and export ecosystem at Gangavaram Port.

Adani Ports and SEZ stock was trading at Rs 1,549, after reaching an intraday high of 3.5%. Over the past year, the company has gained 44.7%, significantly outperforming the Nifty 50's 13.7% rise. The company's market capitalization stood at approximately Rs 3.57 lakh crore.

The MoU was signed on February 21 at the India-Brazil Business Forum Summit in New Delhi through Adani Ports' subsidiary, Adani Gangavaram Port Limited. The agreement outlines a strategic framework for setting up an iron ore blending facility and a dedicated special economic zone at Gangavaram Port, strengthening the iron ore export value chain on India's east coast.

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The proposed facilities include fully mechanized berthing and cargo-handling infrastructure capable of accommodating Valemax vessels, along with end-to-end yard management, blending operations, and vessel discharge and loading. According to the company, these additions are aimed at improving efficiency, scale, and competitiveness in mineral logistics and trade.

The collaboration is expected to increase Gangavaram Port's capacity to up to 75 million metric tonnes and position it as a key hub for iron ore exports from India and the wider region.