Initiated coverage on Adani Power with a 'buy' rating and a target price of ₹250 per share, implying a 20% upside. The call is based on ambitious growth plans to increase capacity to 42 GW by FY32, a solid execution track record, and optionality from nuclear foray. The brokerage values Adani Power at 16x its estimated FY29 EBITDA.

Motilal Oswal Analysis’s track record: 6 graded calls · 95% CI 19–81%

Adani PowerBullishCalled 03 Sep 2026
Verdict:PENDING

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