Adani Power shares in focus today; here's why 

Shares of Adani Power, India’s largest private thermal power producer, are in focus today after the Adani Group firm said it has won a significant Letter of Award from Maharashtra State Electricity Distribution Company Limited for supplying 1,600 MW thermal power under a 25-year agreement at Rs 5.30/kWh tariff starting from FY 2030-31. 

Adani Power shares ended 1.61% lower at Rs 146.70 on Friday on BSE. Market cap of the firm stood at Rs 2.82 lakh crore. 

A total of 22.94 lakh shares of the firm changed hands amounting to a turnover of Rs 34.41 crore on BSE.

In terms of technicals, the Adani Group stock is trading neither in the overbought zone nor in the oversold zone, signals the relative strength index (RSI) of Adani Power which stands at 56.9.

The Adani Group stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages, signaling the stock is trading in bullish zone.

The firm said that this contract adds to the impressive track record of securing five long-term PSA bids totaling 10,400 MW capacity during the current financial year, reinforcing its position as India's largest private thermal power producer with 18.15 GW operating capacity and ambitious expansion plans targeting 41.87 GW by FY31-32.