Adani Ports and Special Economic Zone (APSEZ) saw its stock price climb by 2%, hitting a day's high of Rs 1,045.30 on the National Stock Exchange (NSE). This upward trend is attributed to a report by The Economic Times, which disclosed that APSEZ is in discussions with the Shapoorji Pallonji Group (SP) for the potential acquisition of Gopalpur Ports in Odisha. The estimated equity value for this deal is between Rs 1,100 crore and Rs 1,200 crore.

The stock's strong performance was supported by substantial trading volumes, with around 6.6 million shares changing hands on the NSE by 11 am. Notably, Adani Ports had recently touched its 52-week high of Rs 1,082.50 the previous day.

Sources indicate that APSEZ is in advanced negotiations to acquire Gopalpur Ports from the Shapoorji Pallonji Group as a strategic move to bolster its presence on both the eastern and western coastlines. This potential acquisition would represent Adani Ports' sixth multi-purpose facility on the eastern coast, where it already boasts a significant capacity of approximately 247 million tonnes (MT). The due diligence process is reportedly in progress, according to individuals privy to the discussions. Currently, SP Ports Maintenance holds a 56% stake in Gopalpur Ports, with Orissa Stevedores (OSL) owning the remaining share.