Shares of Adani Ports touched their day’s high of Rs 1,800.60 on 30 June after MSC Group agreed to buy a 49% stake in Vizhinjam port.

Adani Ports has signed a definitive agreement with Terminal Investment Limited (TiL), the container terminal arm of MSC Group, under which TiL will acquire a 49% stake in Adani Vizhinjam Port Private Limited.

The total deal is valued at $2.85 billion, with TiL’s share working out to $1.397 billion, the company said in its filing. The payment will come in two parts.

TiL will pay $539 million upfront for the initial stake, while the remaining $858 million will be released once the port’s Phase 2 expansion is completed, which is expected by December 2028.

This isn’t the first time the two companies have worked together. Adani Ports and MSC have already partnered on Mundra’s Container Terminal No. 3 back in 2013, and more recently at Ennore port in 2023. This Vizhinjam deal marks their third joint venture.

Vizhinjam itself has had a fast start. The port began commercial operations in December 2024 and became the first Indian port to cross 2 million TEUs within just 18 months of opening.

Ashwani Gupta, CEO of APSEZ, called it ‘a premier transshipment hub’ in the company’s statement. The Phase 2 expansion, once finished, will take the port’s capacity up 3.5 times to 5.7 million TEUs, with the quay length stretching to 2,000 metres and the number of ship-to-shore cranes rising to 29.

As of 10:15 am on 30 June, shares of the Ahmedabad-based ports and logistics major were holding firm near their day’s high, trading at Rs 1,788.50 on the NSE, up around 0.70% for the session.

The stock remains comfortably below its 52-week high of Rs 1,857.80, hit earlier this month, and has gained close to 23% over the past year.

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