2 hrs ago
Adani Power Shares in Focus on Bullish Analyst Targets
Adani Power shares are attracting attention because analysts are positive about the company.
Motilal Oswal Financial Services gave the shares a Buy rating and a target of Rs 250.
The company is the largest private producer of thermal power in India.
It had 18GW of capacity in the first quarter.
Adani Power sells electricity through long-term contracts and other market arrangements.
Analysts expect India to need much more thermal power capacity.
They believe Adani Power has limited competition in this area.
The company’s plans may also depend on approvals from courts, tribunals, and regulators.
Bernstein and Antique have issued targets for Adani Power, putting its shares in focus.
Motilal Oswal Financial Services initiated coverage with a Buy rating and a target price of Rs 250 per share.
Adani Power had 18GW of capacity in the first quarter, making it India’s largest private thermal power producer.
The company sells electricity through long- and medium-term power-purchase agreements and merchant contracts.
Adani Power said its resolution plan requires approvals from the National Company Law Tribunal and other relevant authorities.
- Who
- Adani Power, analysts including Motilal Oswal Financial Services, and authorities involved in approving the resolution plan.
- What
- Adani Power shares are in focus following positive analyst targets and the company’s update on a resolution plan.
- Where
- India; the reported approval process includes the National Company Law Tribunal in Hyderabad.
- When
- Today, according to the report; Motilal Oswal Financial Services recently initiated coverage.
- Why
- Analysts cite Adani Power’s growth plans, execution record, thermal-power capacity, and limited competition in the sector.
Key facts
- Motilal Oswal rating
- Buy
- Motilal Oswal target
- Rs 250 per share
- Adani Power capacity
- 18GW in the first quarter
- Market position
- India’s largest private thermal power producer
- Private-sector capacity share
- 24% of private coal- and lignite-based capacity
- Overall capacity share
- 8% of India’s aggregate coal- and lignite-based capacity
- Approval requirement
- The resolution plan is subject to requisite approvals from tribunals, courts, regulators, and other authorities
Quotes
MOFSL
Brokerage firm that initiated coverage of Adani Power
“We see APL as the natural winner of India's upcoming thermal capacity build-out and beneficiary of a benign competitive environment.”
businesstoday.in
Sources
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