Adani Power shares in focus today on fresh project win, check details 

Shares of Adani Power Ltd are in focus on Monday as the company has won a contract to provide 1,500 MW of thermal power to Uttar Pradesh at a competitive levelized tariff of Rs 5.383 per unit. This achievement positions them as the lowest bidder in a recent competitive tender.

In the previous trading session, the Adani Group stock ended 1.26% lower at Rs 513.50 on BSE. Market cap of the firm fell to Rs 1.98 lakh crore. A total of 5.16 lakh shares of the Adani Group firm changed hands amounting to a turnover of Rs 26.28 crore on BSE.
 
The stock has a beta of 1.6, indicating very high volatility in a year. 

In terms of technicals, the Adani Group stock is trading neither in the oversold nor in the overbought zone, signals the relative strength index (RSI) of Adani Power which stands at 42.4.

Adani Power stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. 

The power will be generated from a new ultra-supercritical thermal power plant, featuring a 2x800 MW configuration (net capacity of 1,500 MW), which Adani Power plans to establish in the state under the Design, Build, Finance, Own, and Operate (DBFOO) model.

Earlier this month, the Uttar Pradesh Cabinet granted formal approval for the project, which has an estimated investment of around $2 billion (approximately Rs 16,600 crore). Following the issuance of the Letter of Award (LoA), Adani Power is set to secure a long-term Power Supply Agreement (PSA) with Uttar Pradesh Power Corporation Ltd (UPPCL).

S B Khyalia, Chief Executive Officer of Adani Power, expressed enthusiasm over winning the competitive bid, stating, "We are delighted to have secured the contract to supply 1,500 MW of power to Uttar Pradesh. We are honored to play a pivotal role in addressing the state's rapidly increasing power demand. Our goal is to establish a state-of-the-art, low-emission ultra-supercritical plant in UP and commence the delivery of reliable, high-quality power by FY30."

Khyalia also mentioned that Adani Power intends to invest $2 billion in the development of the plant and associated infrastructure. The project is anticipated to create between 8,000-9,000 direct and indirect jobs during the construction phase, with around 2,000 jobs expected once it becomes operational.

This marks the second significant PSA bid that Adani Power has won in the past year, following the composite 6,600 MW (1600 MW thermal and 5000 MW solar) Letter of Intent (LoI).