Adani Power shares surge 26% in six months; room for more gains?

Shares of Adani Power Ltd jumped 3.99 per cent on Thursday to settle at Rs 148.70. At this closing level, the stock has gained 25.72 per cent over the last six months. It saw high trading volume along with price action, as around 25.72 lakh shares changed hands. The figure was way more than the two-week average volume of 8.91 lakh shares. Turnover on the counter came at Rs 104.25 crore, commanding a market capitalisation (m-cap) of Rs 2,87,052.68 crore.

Antique Stock Broking initiated coverage on Adani Power last month with a 'BUY' rating, setting a target price of Rs 187.

From a technical standpoint, select analysts maintain a bullish outlook on Adani Power with support around Rs 139-142 levels.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, observed that Adani Power has given a consolidation breakout supported by strong volumes near the key 100 DEMA. He added that the stock's structure indicates a bullish trend, with support near the Rs 140 zone, while Rs 160 could act as resistance in the short term.

AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, said that the stock remains bullish on daily charts with strong support at Rs 139. He noted that a daily close above Rs 151 may open the way for an upside towards Rs 168 in the near future.

Ravi Singh, Chief Research Officer at Mastertrust, also believes the chart setup looks positive and expects the stock to move towards Rs 155 soon, recommending a stop loss at Rs 142.

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). Its 14-day relative strength index (RSI) came at 57.49. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The scrip has a standalone/consolidated price-to-earnings (P/E) ratio of 26.68/24.43 against a price-to-book (P/B) value of 7.01. Earnings per share (EPS) stood at 5.58/6.09 with a return on equity (RoE) of 26.26. As per Trendlyne data, Adani Power has a one-year beta of 1.33, indicating high volatility.

As of September 2025, promoters held a 74.96 per cent stake in the company.