Adani Ports stock: Nomura backs INR 2,150 target after cargo surge

Published on 11/10/2026 at 10:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adani Ports stock gained attention after October cargo volumes rose 27 percent year on year. Nomura kept its Buy rating.

Cargo growth supports Nomura outlook

October cargo volumes reached 51 million tonnes, while year-to-date traffic rose to 331 million tonnes.
Nomura expects EBITDA to compound at 19 percent annually through fiscal 2029, with logistics and marine operations growing faster.
Adani Ports is scheduled to report third-quarter fiscal 2027 results on January 28, 2027.

Adani Ports, INE742F01042, Illustration mit AI erstellt.

Adani Ports and Special Economic Zone handled 51 million tonnes of cargo in October 2026, an increase of 27 percent from the same month a year earlier. The operating update and Nomura assessment were reported by TradingView News on November 3.

Nomura maintained its Buy rating and INR 2,150 target for the shares. The brokerage cited the stronger October traffic, operating efficiency and Adani Ports' integrated logistics platform. Its estimate calls for a 19 percent compound annual growth rate in EBITDA from fiscal 2026 to fiscal 2029.

October traffic broadens growth base

Container volumes increased 21 percent year on year in October, while dry cargo rose 36 percent. Domestic port cargo advanced 18 percent. Cargo handled during the first seven months of fiscal 2027 reached 331 million tonnes, up 16 percent from the comparable period.

Logistics rail volumes stood at 62,653 twenty-foot equivalent units, 4 percent above the prior-year level. Nomura left the company's fiscal 2027 logistics guidance unchanged and expects the asset-light logistics businesses to support expansion.

Guidance and reporting calendar matter

The company said in its investor-relations information that its next quarterly results meeting is scheduled for January 28, 2027. Investors will be watching whether cargo momentum translates into earnings and cash-flow growth, particularly as the group continues expanding its ports and logistics network.