Shares of Adani Ports and Special Economic Zone are likely to remain in focus on July 1 after multiple brokerages reaffirmed their bullish stance on the stock following the company's agreement to sell a 49 percent stake in its Vizhinjam International Seaport to a unit of Switzerland's MSC Group for $1.4 billion. Analysts said the partnership strengthens long-term cargo visibility and supports the company's growth outlook.

Adani Ports and SEZ stock ended 1.91 percent higher at Rs 1,810.10 in the previous session. It has gained 25.1 percent over the past year, outperforming the Nifty 50, which has declined 6.6 percent during the same period. The company commands a market capitalisation of around Rs 3.9 lakh crore.

Jefferies maintained its 'Buy' rating on the stock with a target price of Rs 2,160, implying an upside of more than 19 percent from the previous close. The brokerage said the implied valuation of the transaction stands at around 19 times EV/EBITDA and believes the deal enhances long-term cargo visibility for the port. It also expects Adani Ports' balance sheet to strengthen further, with the company potentially turning net cash positive by FY31.

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Nomura also retained its 'Buy' rating with a target price of Rs 2,080. The brokerage said MSC will acquire the 49 percent stake for $1.4 billion through its unit Terminal Investment, adding that the partnership improves long-term cargo visibility. It considers the implied valuation of around 15 times FY31 EBITDA to be reasonable and noted that Adani Ports currently trades at around 14 times FY28 EV/EBITDA.

Meanwhile, Motilal Oswal Financial Services reiterated its 'Buy' rating and assigned a target price of Rs 2,050. The brokerage said the MSC partnership strengthens the company's long-term growth outlook, while earnings visibility remains robust. It added that ongoing capacity expansion, along with growth in the logistics and marine businesses, should continue to support future earnings.

On June 30, Adani Ports said Terminal Investment, a unit of MSC Group, will acquire a 49 percent stake in Vizhinjam International Seaport for $1.4 billion, marking the largest foreign private investment in India's domestic port infrastructure. The company said the partnership is expected to accelerate cargo ramp-up at the Kerala port and deepen its strategic relationship with MSC, following earlier collaborations at Mundra and Ennore ports. The transaction remains subject to regulatory approvals.

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