India's Adani Power up; PL Capital initiates with 'buy'

Adani Power

25/09/2026 10:16

** Shares of India's Adani Power ADAN.NS rise 2% to 203.5 rupees
** PL Capital initiates ADAN with "buy" rating at TP of 259 rupees
** Highlights strong earnings growth trajectory and criticality of thermal power for India's requirements
** ADAN is India's second-largest thermal power producer, currently accounts for 7% of country's coal-based installed capacity, says brokerage
** Brokerage says co targeting an increase in market share to 14% by expanding capacity from 18.3 gigawatts in FY26 to 41.9 gigawatts by FY32
** Adds, recently signed power purchase agreements offer higher capacity charges, helping support strong earnings growth trajectory
** ADAN rated "buy" on avg by 10 analysts; median PT is 258 rupees - LSEG-compiled data
** Stock up 42.3% YTD
     

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))