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Adani Ports shares rose over 6 percent on Friday in early trade after the firm reported a 50 percent jump in its March quarter net profit. The company also issued a higher year-on-year revenue growth forecast for the current fiscal.

Shares of Adani Ports and Special Economic Zone (APSEZ) rose 6.45 percent to an intraday high of Rs 1,295 per share on the NSE. Later in the day, it pared some gains to quote at Rs 1,273.6 apiece, higher by 4.69 percent.

The stock emerged as the biggest gainer among the Sensex and Nifty firms.

The company on Thursday reported a 50 percent jump in its March quarter net profit and issued a higher year-on-year revenue growth forecast for the current fiscal, citing a strong growth in port volumes and robust rise in logistics business.

Net profit of Rs 3,025 crore in January-March - the fourth quarter of April 2024 to March 2025 fiscal year - compared with Rs 2,015 crore earnings in the same period a year back, the company said in a statement.

The domestic brokerage Motilal Oswal tagged a 'Buy' rating to the stock, recommending a price target of Rs 1,550 per share, a 27 percent upside potential from its Wednesday's closing price.

APSEZ’s 4QFY25/FY25 performance was broadly in line, and the company is projected to grow at 1.5-2.0x India’s cargo volume, propelled by market share gains and capacity expansion. Additionally, its logistics business will enhance last-mile connectivity, adding value to domestic port operations, the report said.

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