Adani Power shares gain 60% from 52-week low: What investors should know before entering the counter
Adani Power stock touched a 52-week low of Rs 128.35 on January 23, 2026. It trades at Rs 206 in the current session.
- Nov 5, 2026,
- Updated Nov 5, 2026 10:11 AM IST
Adani Power stock price today: Shares of Adani Power Ltd have surged 60% from their 52-week low since the beginning of this year. During 2026, Adani Power became India’s most valuable listed power company. The stock rose nearly 35% in 2026, overtaking NTPC in market cap.
Strong earnings performance, AI boom, heatwaves, an increase in the number of data centres and rising power demand fueled the rally in the Adani Power stock this year.
Adani Power stock touched a 52-week low of Rs 128.35 on January 23, 2026. It trades at Rs 206 in the current session.
In Q2 of this fiscal, net profit rose 141.5% to Rs 7,019 crore. Revenue reached Rs 17,528 crore, a 28.5% increase from Rs 13,639 crore in Q2FY26.
In Q1 of this fiscal, Adani Power reported a 42% year-on-year (YoY) growth in consolidated net profit at Rs 4,806 crore. Revenue increased 34% YoY to Rs 18,902 crore with volume growth and power selling rates, as compared to Rs 14,109 crore in Q1 FY26.
In Q4, net profit surged 64% year-on-year to Rs 4,271 crore led by income from other operations, as revenues marginally dropped on a year-on-year basis.
Adani Power share price today
Adani Power shares traded 2% higher at Rs 205.30 in the current session. Market cap of the firm stood at Rs 3.95 lakh crore. A total of 5.76 lakh shares of the firm changed hands amounting to a turnover of Rs 11.80 crore.
In terms of technicals, the stock has a RSI of 57.7 signaling its neither oversold nor overbought on charts.
The Adani Group stock is trading higher than the 5 day, 10 day, 20 day 30 day, 50 day, 200 day and lower than the 100 day and 150 day moving averages.
Adani Power share price targets
Jefferies revised its price target on Adani Power to Rs 240 against Rs 270. The brokerage lowered the multiple to 18 times EV/EBITDA Sept 28E against 20x EV/EBITDA Sept 28E earlier.
This reflects the recent sector de-rating on the back of higher interest rates and also limited scope for Adani Power to surprise on earnings in FY28E-30E as merchant share reduces. "APL’s 18 times multiple is a 100% premium to NTPC’s implied 9x multiple given faster growth and some merchant upside also available in APL. Downside risks: 1) Past PPA issues cropping up again and impacting EBITDA; 2) sharp drop in merchant realizations; 3) demand disappointment; 4) payment delays for 1.6 GW Godda power plant that has PPAs with Bangladesh," said Jefferies.
Elara Securities has an accumulate call on the stock with a target price of Rs 220.
Operating capacity stood at 18,330 MW across 13 assets as on H1FY27. The company is progressing with a 23.7GW thermal capacity expansion program, targeting completion by FY32, with estimated capital expenditure of Rs 2 lakh crore.
Elara said the company offers strong earnings visibility, supported by its 24GW locked-in capacity expansion, rising PPA coverage, and upside from merchant power.
"We reduce our earnings estimates for FY27, factoring in delay in capacity addition. We believe a significant portion of the company’s medium-term growth opportunity is already reflected in the current valuation," said Elara Securities.
JM Financial has a buy call on the stock with a target price of Rs 258.
"We estimate commissioning of Korba-II unit-1 (660MW)/ unit-2 (660MW) in Q3FY27/Q4FY27, Mahan-II (1,600MW) in FY28 and commissioning of 3,600MW in FY29. Considering increasing power deficit in the evening (5.1/4.1/7.7GW in CY24/25/26), swift commissioning of new capacities (four years versus industry average of 5–6 years) and attractive financial profile (2.5–3 net debt/ EBITDA during FY26–29), we maintain BUY with a TP of INR 258 (INR 255 earlier) based on 18x Sep’28E EV/EBITDA," said JM Financial.
Adani Power stock price today: Shares of Adani Power Ltd have surged 60% from their 52-week low since the beginning of this year. During 2026, Adani Power became India’s most valuable listed power company. The stock rose nearly 35% in 2026, overtaking NTPC in market cap.
Strong earnings performance, AI boom, heatwaves, an increase in the number of data centres and rising power demand fueled the rally in the Adani Power stock this year.
Adani Power stock touched a 52-week low of Rs 128.35 on January 23, 2026. It trades at Rs 206 in the current session.
In Q2 of this fiscal, net profit rose 141.5% to Rs 7,019 crore. Revenue reached Rs 17,528 crore, a 28.5% increase from Rs 13,639 crore in Q2FY26.
In Q1 of this fiscal, Adani Power reported a 42% year-on-year (YoY) growth in consolidated net profit at Rs 4,806 crore. Revenue increased 34% YoY to Rs 18,902 crore with volume growth and power selling rates, as compared to Rs 14,109 crore in Q1 FY26.
In Q4, net profit surged 64% year-on-year to Rs 4,271 crore led by income from other operations, as revenues marginally dropped on a year-on-year basis.
Adani Power share price today
Adani Power shares traded 2% higher at Rs 205.30 in the current session. Market cap of the firm stood at Rs 3.95 lakh crore. A total of 5.76 lakh shares of the firm changed hands amounting to a turnover of Rs 11.80 crore.
In terms of technicals, the stock has a RSI of 57.7 signaling its neither oversold nor overbought on charts.
The Adani Group stock is trading higher than the 5 day, 10 day, 20 day 30 day, 50 day, 200 day and lower than the 100 day and 150 day moving averages.
Adani Power share price targets
Jefferies revised its price target on Adani Power to Rs 240 against Rs 270. The brokerage lowered the multiple to 18 times EV/EBITDA Sept 28E against 20x EV/EBITDA Sept 28E earlier.
This reflects the recent sector de-rating on the back of higher interest rates and also limited scope for Adani Power to surprise on earnings in FY28E-30E as merchant share reduces. "APL’s 18 times multiple is a 100% premium to NTPC’s implied 9x multiple given faster growth and some merchant upside also available in APL. Downside risks: 1) Past PPA issues cropping up again and impacting EBITDA; 2) sharp drop in merchant realizations; 3) demand disappointment; 4) payment delays for 1.6 GW Godda power plant that has PPAs with Bangladesh," said Jefferies.
Elara Securities has an accumulate call on the stock with a target price of Rs 220.
Operating capacity stood at 18,330 MW across 13 assets as on H1FY27. The company is progressing with a 23.7GW thermal capacity expansion program, targeting completion by FY32, with estimated capital expenditure of Rs 2 lakh crore.
Elara said the company offers strong earnings visibility, supported by its 24GW locked-in capacity expansion, rising PPA coverage, and upside from merchant power.
"We reduce our earnings estimates for FY27, factoring in delay in capacity addition. We believe a significant portion of the company’s medium-term growth opportunity is already reflected in the current valuation," said Elara Securities.
JM Financial has a buy call on the stock with a target price of Rs 258.
"We estimate commissioning of Korba-II unit-1 (660MW)/ unit-2 (660MW) in Q3FY27/Q4FY27, Mahan-II (1,600MW) in FY28 and commissioning of 3,600MW in FY29. Considering increasing power deficit in the evening (5.1/4.1/7.7GW in CY24/25/26), swift commissioning of new capacities (four years versus industry average of 5–6 years) and attractive financial profile (2.5–3 net debt/ EBITDA during FY26–29), we maintain BUY with a TP of INR 258 (INR 255 earlier) based on 18x Sep’28E EV/EBITDA," said JM Financial.