Adani Power, Tata Power, Coal India shares jump up to 7%: Jainam Broking's Kiran Jani weighs in

Shares of Adani Power Ltd, Tata Power Company Ltd and Coal India Ltd witnessed strong buying interest on Thursday, with the stocks rising by up to 7 per cent during the session.

Market expert Kiran Jani, Head of Technical Research at Jainam Broking, said the mentioned three counters appear attractive, citing the onset of early summer and concerns around the oil and gas situation.

"Coal India looks very promising at current market prices. One can consider entering from an investment perspective. The Rs 400–420 range is a major base support zone. Investors should keep a strict stop loss below these levels, while the stock may move towards Rs 500 in the coming period," Jani told Business Today.

On Tata Power and Adani Power, Jani suggested a buy-on-dips strategy.

"Both Tata Power and Adani Power look good at current market prices, but a buy-on-dips approach would be better. For Tata Power, Rs 390–380 is an accumulation zone. Keep a strict stop loss below Rs 370. If the stock holds above Rs 370, it may move towards Rs 410–420 in the short term," he said.

Regarding Adani Power, Jani noted that the major support lies around Rs 130–135 levels, while the stock could potentially move towards Rs 160–170 on the higher side.

At the close, Adani Power shares surged 7.38 per cent to Rs 149.10, while Coal India gained 5.34 per cent to Rs 470.15. Tata Power rose 4.44 per cent to settle at Rs 402.30.

Meanwhile, Indian benchmark indices extended their decline on Thursday, as a fresh spike in crude oil prices amid renewed escalation in the West Asia conflict dampened investor sentiment. Weakness was also visible across the broader market.