Adani Power share price targets: Stock hits record high for fifth day but technical analysts see more upside, say this

Shares of Adani Power hit a record high for the fifth straight session in early deals on Friday. The Adani Group stock is strongly overbought on charts with a RSI of 84.6, indicating there are more buyers than sellers for the stock. The Adani Group stock is in a bull run as Adani Power in February 2026 incorporated a new subsidiary, Adani Atomic Energy Ltd (AAEL), marking its entry into the nuclear energy sector. The company's objective is to generate electricity from nuclear sources, indicating a move into clean energy expansion. 

Reacting on the move, brokerage Bernstein listed Adani power as one of the key beneficiaries of India's nuclear programme. Other firms it mentioned were L&T, MTAR Tech, KSB, NTPC and Tata Power. 

Adani Power shares hit a record high of Rs 197.05 today. Market cap of the firm climbed to Rs 3.75 lakh crore. A total of 11.10 lakh shares of the firm changed hands amounting to a turnover of Rs 21.65 crore in early deals.

The Adani Group stock has decent financials. Net profit CAGR came at 37% in the last three years. The CAGR for EBITDA during the same period stood at 20%. 

The stock fell to a 52 week low of Rs 101.06 on April 17, 2026. It has zoomed 95% from 52 week low since then. 

The company has a low debt to equity ratio of 0.3. 

The multibagger stock has gained 412% in three years and gained 956% in five years. The strong rally rise in the Adani Power stock has been accompanied by high volatility in a year, signals its one year beta of 1.34. 

In terms of technicals, the Adani Group stock is trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. 

Jigar S Patel from Anand Rathi is bullish on the technical outlook of the Adani Power stock. "Support is placed at Rs 182, while resistance stands at Rs 205. A decisive breakout above Rs 205 could open the door for further upside towards Rs 210. For the short term, the stock is expected to trade within the Rs 182–Rs 210 range," said Patel. 

Hitesh Tailor, Technical Research Analyst at Choice Broking said, "Adani Power is showing strong technical strength after delivering a horizontal resistance breakout and sustaining above the breakout zone, indicating solid price acceptance. The stock continues to trade in a higher high–higher low formation on the daily chart, supported by steady accumulation and a rising trend structure. Currently trading around Rs 195, the stock remains above key moving averages with upward sloping EMAs, reinforcing the bullish bias. While the overall setup is positive, a retracement towards the Rs 175–Rs 180 zone near the breakout level would offer a better risk-reward entry. On the downside, support is seen near Rs 160, while upside potential remains towards Rs 215–Rs 225, with appropriate risk management."

ICICI Securities projects gross profit margins to grow steadily from 37.9% in FY25 to 38.1% in FY26, 40.6% in FY27 and 45.3% in FY28. EBITDA, which came at 17.2% in FY25 is seen at minus 2.65% in FY26, 24.2% in FY27 and 23.2% in FY28. 

According to estimates by JM Financial, Adani Power may report 12.3 per cent YoY fall in Q4 net profit at Rs 2,278 crore. Sales is expected to rise marginally by 0.5 per cent to Rs 14,309 crore. 

In Q3, net profit slipped 18.89 per cent year-on-year (YoY) to Rs 2,479.58 crore compared with Rs 3,057.21 crore in the corresponding quarter last year. On a sequential basis, net profit fell 16.03 per cent from Rs 2,952.78 crore.Revenue from operations fell 8.92 per cent YoY to Rs 12,451.44 crore from Rs 13,671.18 crore. On a quarter-on-quarter (QoQ) basis, revenue fell 7.47 per cent from Rs 13,456.84 crore.