JM Financial said that Adani Power gradually built capacities and is now India’s largest private sector thermal power producer with 18.1GW capacity and is targeting a capacity of 41.9GW by FY32.
Adani Power shares settled at Rs 146 piece on Monday. The Adani group stock has received 'Buy' rating from JM Financial with a target price of Rs 178 per share.
JM Financial said Adani Power has emerged as India’s largest private sector thermal power producer with 18.1 GW of installed capacity, comprising 10.8 GW of organic capacity and 7.3 GW added through acquisitions.
The stock traded above the 5-day, 10-, 20-, 30-, 100-, 150-day and 200-day simple moving averages (SMAs) but lower than the 50-day simple moving average (SMA).
Shares of Adani Group companies were seen flying higher on the first day of 2026 as select counters from the Gautam Adani-led conglomerate jumped up to 9 per cent on Thursday.
Adani Power vs Tata Power share price: While Adani Power shares rose 25.60%, Tata Power stock slipped 6% in six months.
Earlier this month, Adani Green, along with its various stepdown subsidiaries, operationalised an aggregate 200 MW power projects at Khavda, Gujarat.
The company disclosed that the project cost is Rs 3,400 crore (excluding GST), with a construction period spanning 42 months.
An analyst from Anand Rathi said that the price action of Adani Power is below the 10- and 20-DEMA currently, which is a short-term bearish signal.
Adani stocks such as Adani Power Ltd, Adani Energy Solutions Ltd and Adani Ports and Special Economic Zone Ltd gained 23-36 per cent this calendar.
Antique said Adani Power is set to expand capacity 2.3 times, from 18.15 GW in FY25 to 41.9 GW by FY33, marking a decisive transition.





