Adani Ports shares soar 3.5% on inking strategic MoU with NMDC, Brazil’s Vale S.A. for iron ore

Adani Ports share price: Shares of Adani Ports and Special Economic Zone (APSEZ) surged as much as 3.51% to an intraday high of ₹1,564.50 per unit on the National Stock Exchange (NSE) on Monday, February 23.

This comes after the company, through its subsidiary, inked a strategic memorandum of understanding (MoU) with NMDC and Brazil’s Vale S.A. on Iron Ore on Saturday.

The stock was trading 2.67% higher at ₹1,511.90 per equity share at around 11:13 am.

While the scrip hit a 52-week high of ₹87 apiece on January 2, 2026, it touched a year’s low of ₹52.46 on April 7, 2025.

In a regulatory filing dated February 21, it stated that its subsidiary, Adani Gangavaram Port Ltd (AGPL), signed a strategic pact with NMDC Ltd, a Government of India enterprise, and Vale S.A. at the India–Brazil Business Forum Summit held in New Delhi.

The MoU was signed during the official visit of Luiz Inácio Lula da Silva, President of the Federative Republic of Brazil, to India, and Piyush Goyal, Minister of Commerce and Industry of India, “underscoring the deepening India–Brazil strategic partnership.”

The MoU established a strategic framework for the development of an iron ore blending facility and a dedicated Special Economic Zone (SEZ) at Gangavaram Port.

Under the pact, the parties will jointly develop, operationalise, and manage an integrated SEZ based ecosystem for the blending, value addition, and commercialisation of iron ore.

It will also involve the establishment of fully mechanised berthing and cargo-handling facilities capable of accommodating Valemax vessels with a carrying capacity of up to 400,000 MMT.

Furthermore, the collaboration will comprise end-to-end yard management, blending operations, and vessel discharge and loading to enhance supply chain efficiency and will involve strengthening Gangavaram’s position as a consolidated export hub for iron ore and port-led industrial growth.

“This initiative is designed to strengthen the iron ore export value chain on India’s East Coast while enhancing efficiency, scale, and global competitiveness in mineral processing and trade,” APSEZ added.

With the development, the capacity of Gangavaram Port will increase to 75 MMT, the company stated, adding that the port will become a hub for iron ore exports for India and the region.

Commenting on the development, Ashwani Gupta, Whole-time Director & CEO of APSEZ, said: “This collaboration reflects a shared commitment to building resilient, future-ready infrastructure that strengthens India’s position in global supply chains.”

He added that by integrating high-quality mineral logistics with advanced port capabilities, the company will support industry requirements while contributing to the country’s broader economic growth.

“Our partnership with NMDC and Vale will help establish a modern, efficient, and sustainable ecosystem for the iron ore sector on the East Coast. Gangavaram Port is poised to become the first port in India capable of handling Valemax vessels — the world’s largest Very Large Ore Carriers (VLOCs),” Gupta stated.

Adani Ports and Special Economic Zone has a total market capitalisation of ₹3.57 lakh crore, as of February 23, 2026, according to data on the NSE.