AHMEDABAD : Adani Ports & Special Economic Zone Ltd.’s market capitalisation has climbed to about $37 billion, overtaking peer Beijing-Shanghai High Speed Railway Co. Rising cargoes and entry into India’s benchmark S&P BSE Sensex Index may extend its rally.

“It’s the beginning of a journey for Adani Ports,” said Deven Choksey, MD at DRChoksey FinServ Pvt. Expansion is becoming more natural for the company now that it’s generating cash and can already manage millions of metric tons of cargo, he said.

Adani Ports handled . . .