Adani Power share price jumps 8% with strong surge in volume; should you buy?
Other Adani Group stocks, including Adani Enterprises, Adani Ports, Adani Green Energy, Adani Total Gas and Adani Energy Solutions, also witnessed healthy gains of 1-3 per cent during the session.
Adani Power share price has gained over 12 per cent this year so far. The stock hit a 52-week high of ₹ 810.55 on June 10 last year, followed by a 52-week low of ₹ 430.85 on November 21.
On a monthly scale, the stock has been in the green since March this year, rising 9 per cent in June so far.
The company announced, through an exchange filing on June 9, that it held an investor presentation that showcased its business performance.
Meanwhile, the company reported a 5 per cent decline in its consolidated net profit to ₹ 2,599.23 crore in Q4FY25 compared to the year-ago period, mainly due to lower recognition of one-time items. It had reported a net profit of ₹ 2,737.24 crore in the quarter ended on March 31, 2024, a company statement said.
Profit after tax for FY25 was lower at ₹ 12,750 crore compared to ₹ 20,829 crore in FY24 on account of lower one-time revenue recognition and higher tax charges.
On May 28 this year, brokerage Incred Equities initiated coverage on the stock with an 'add' rating with a target price of ₹ 649.
"We project an 11 per cent EBITDA CAGR over FY25-28F, driven by 70 %+ PLF and 10% power generation growth as the pipeline capacity gets commissioned," said the brokerage firm.
Incred said the capex of ₹ 1,20,000 crore is expected to be funded via internal accruals, deleveraging the balance sheet to reduce net-debt/EBITDA to 0.9 times by FY30F from 1.5 times in FY25.
"We have valued Adani Power at 11 times one-year forward EV/EBITDA with a target price of ₹ 649. The valuation is supported by a projected 9% PAT CAGR and sustained RoE above 15%. Execution delay in the 13.12GW pipeline, lower-than-expected merchant realisation and revival of the discom payment issue are the key downside risks," said Incred.
Technical experts also highlight a favourable setup for the stock.
According to Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, Adani Power recently broke out after nearly a month of consolidation, supported by a notable surge in volume, signalling strong accumulation.
This consolidation is particularly significant because it occurred within the R3–S3 zone of the monthly Camarilla pivots, forming an Inside-Value relationship.
Adani Power stock technical chart
Patel added that this technical structure, where the current month's pivots are nested within the previous month's range, often precedes strong directional moves. Strengthening the bullish outlook, the daily RSI has consistently stayed above 50 and is now positioned at 68, indicating improving momentum.
"From a trading perspective, a buying opportunity is identified in the ₹ 595–580 zone, with a target of ₹ 650. A stop loss should be placed at ₹ 555 on a daily closing basis," said Patel.
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