Adani Power Shares Rise 2% Amid Market Weakness; Up 15% YTD — Analysts Signal Buy

Mumbai, July 9, 2025 — Adani Power Ltd shares climbed nearly 2% in intraday trade on Wednesday, defying broader market weakness. The stock opened at ₹600.20 and surged to an intraday high of ₹609.95 before settling at ₹603.95, marking its third consecutive session of gains. This performance comes as the benchmark Sensex remained flat around 83,734 points.

Year-to-date, Adani Power has delivered a 15% return, significantly outperforming the Sensex’s 7% gain. The stock has remained in the green since March and has risen approximately 4% in July alone. It previously hit a 52-week high of ₹752.15 on August 1 and a low of ₹430.85 on November 21 last year.

Global brokerage firm Jefferies has maintained a ‘buy’ rating on the stock, citing robust capacity expansion and improved earnings visibility. The firm projects a 15% upside with a target price of ₹690 per share. Between FY23 and FY25, Adani Power’s capacity has increased by 29%, with 2.3 GW added through acquisitions. The company aims to reach 30 GW by FY30, supported by strong operational cash flows and a declining net debt-to-equity ratio.

Jefferies also noted that Adani Power’s earnings volatility is expected to reduce as merchant capacity declines from 18% in FY25 to around 10–12% by FY30. Equipment for 11.2 GW has already been ordered from Bharat Heavy Electricals, with in-house teams managing site erection to accelerate execution.

With India’s thermal energy targets potentially rising, Adani Power is positioned as a key player in the sector’s growth story. While risks such as PPA disputes and merchant power price fluctuations remain, the company’s strategic expansion and financial discipline have bolstered investor confidence.

Market analysts continue to view Adani Power as a strong buy, especially for investors seeking exposure to India’s evolving energy infrastructure.