Shares of Adani Ports and Special Economic Zone Ltd (APSEZ) and GMR Airports experienced notable surges in Friday's trading session, driven by reports of significant block deals. Adani Ports saw its stock climb over 3%, while GMR Airports recorded a 5% gain, as substantial equity stakes changed hands in the market.
Adani Ports Sees Major Equity Transaction
For Adani Ports, approximately 70.5 lakh shares, representing 0.3% of the company's total equity, were traded in a block deal. This transaction was valued at Rs 1,234 crore, with shares changing hands at an average price of Rs 1,754 each, according to reports from CNBC TV18. Following this activity, the Adani Ports stock closed 3.36% higher at Rs 1,760, marking an increase of Rs 57.20. The company's market capitalization stood at Rs 4.05 lakh crore.
Brokerage firm MOFSL has maintained a 'buy' rating on Adani Ports, setting a price target of Rs 2,130. The firm highlighted strong volume recovery, particularly in dry cargo and containers during August 2026, and improving earnings visibility as key factors supporting APSEZ's growth trajectory, even amidst geopolitical uncertainties.
GMR Airports Stock Rises on Block Deal
Similarly, GMR Airports witnessed a block deal involving 9.1 crore shares, constituting nearly 0.87% of its outstanding equity. The shares were traded at an average price of Rs 89.53 apiece, bringing the total transaction value to around Rs 818 crore. GMR Airports' stock ended the session 5% higher, closing at Rs 92.17 against its previous close of Rs 88. The company's market capitalization reached Rs 97,322 crore.
Religare Broking has set a target price of Rs 135 for GMR Airports. The brokerage noted that management anticipates passenger traffic to remain soft in the first half of FY27 but expects a recovery in the second half. Refinancing initiatives aimed at reducing debt costs below 10% over the next 12 months are expected to enhance financial flexibility. Religare also pointed out key risks, including geopolitical disruptions, continued traffic softness, and elevated leverage, but concluded that improving operations, new capacity additions, and deleveraging potential support sustained earnings growth for GMR Airports.