New Delhi, Nov. 26 -- Adani Ports and Special Economic Zone Ltd's stock trades at almost twice the price-to-earnings multiple of its Chinese counterparts, based on FY27 estimates. But this has not deterred brokers from making positive recommendations on the stock.

Antique Stock Broking Ltd initiated coverage of Adani Ports on Tuesday with a 'buy' rating and a target price of Rs.1,773. The stock now trades at about Rs.1,510.

There is general optimism about Indian port companies after China's exports shrank in October, the first monthly contraction since March 2024, and Moody's view that port companies in India will benefit from the China-Plus One manufacturing strategy. The other reason for the company-specific optimism could be Adani's ...