Two port stocks stand out on the charts. Is Adani Ports one of them?
Subscribe to enjoy similar stories. MUMBAI : India’s port sector is on the rise, and it’s a story worth paying attention to. With over 7,500 kilometres of coastline and over 200 ports, India is becoming a maritime powerhouse.
In 2023, the 12 major ports collectively handled 819 million tonnes of cargo—up 4.45% from the year before. With the government planning a massive $82 billion investment in port projects by 2035, India’s ports are poised to make an even more significant impact on global trade. So, if you are wondering where to look next for growth, India’s port sector might be the answer.
As the port sector is booming, investors are beginning to notice. While the Nifty 50 has risen by over 38% since March 2023, the port sector has stood out, with stocks offering serious growth potential. Let’s look at two in particular: Seamec Ltd and JSW Infrastructure Ltd.
These are stocks worth adding to your watchlist if you want to ride this potentially bullish wave in the ports sector. Also Read: To avoid Chinese ports, India plans to use Trans-Siberian Rail to bring Mongolian coking coal to Vladivostok Seamec has been showing strong signs of growth lately. It’s been consolidating within a long-term ascending triangle pattern, and a recent breakout has further strengthened its bullish outlook.
Currently, the stock price has solid support at its previous breakout level and the 50-week moving average. And there’s more—the 14-period relative strength index (RSI) shows a bullish divergence, often suggesting a possible reversal from recent declines. If you’re considering stocks in this sector, Seamec Ltd deserves a closer look.
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