Motilal Oswal Recommends 'BUY' on Adani Ports, Sets INR 1800 Target

• Motilal Oswal reiterates 'BUY' rating for Adani Ports & SEZ (APSEZ) with a revised target price of INR 1800.
• APSEZ acquired North Queensland Export Terminal (NQXT), Australia, in Dec’25, securing 40mmt contracted volume.
• Revised FY26 EBITDA guidance now INR223.5-233.5 billion and cargo volumes 545-555mmt.
• Promoter stake increased to 68.02% after issuing 143.8 million shares to Carmichael Rail and Port Singapore Holdings.
• Reported 9% YoY cargo volume growth in Dec’25, with container volumes up 18%; YTD volumes up 11%.

Why It Matters: Motilal Oswal sees strong growth for Adani Ports, recommending a 'BUY' with INR 1800 target.