India's Adani Ports rises on signing MoU for iron ore blending facility

Vale

23/02/2026 05:15

** Shares of India's Adani Ports and Special Economic Zone APSE.NS rise nearly 3% to 1556 rupees, set to snap three session losing run

** Co's unit signs Memorandum of Understanding (MoU) with NMDC Limited NMDC.NS and Vale S.A. VALE3.SA for the development of an iron ore blending facility and a dedicated Special Economic Zone (SEZ) at Gangavaram Port in the southern Indian state of Andhra Pradesh

** Capacity of Gangavaram Port will increase up to 75 MMT, co says

** More than 1.3 mln shares change hand by 10:42 am IST vs 30-day avg of 2.7 mln shares

** APSE rated "strong buy" on avg by 23 analysts covering it; median PT at 1825 rupees- data compiled by LSEG

** YTD, APSE up ~6%

 (Reporting by Komal Salecha in Bengaluru)

 ((Komal@thomsonreuters.com))