Shares of Adani Power have achieved two consecutive record highs since the company reported its fourth-quarter earnings on April 29. The surge in the Adani Group stock, influenced by its strong financial results, has propelled it into an overbought zone, indicating significant buying interest.
Q4 FY26 Performance Fuels Investor Confidence
Adani Power's net profit saw a substantial 52% year-on-year increase in Q4 FY26, reaching Rs 4,017 crore, up from Rs 2,637 crore in the same period last year. While revenue remained largely flat at Rs 14,223 crore, slightly down from Rs 14,237 crore a year ago, the profit growth significantly boosted investor sentiment.
The company's market capitalization climbed to Rs 4.43 lakh crore amidst the rally. A total of 22.56 lakh shares were traded, amounting to a turnover of Rs 52.06 crore. The stock has demonstrated remarkable long-term growth, gaining 380% over three years and an impressive 1086% over five years. Despite this strong performance, the stock has experienced high volatility, with a one-year beta of 1.05.
Technical Analysis and Price Targets
Technically, Adani Power stock is trading above its 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages, signaling a strong bullish trend.
Expert Insights on Adani Power Stock
- Virat Jagad, Sr. Technical Research Analyst at Bonanza: Jagad noted that Adani Power has shown a strong breakout above the Rs 175–180 resistance zone, confirming a bullish trend continuation supported by a higher high–higher low structure and aligned moving averages. He projects upside potential towards Rs 250–280 in the near to medium term, advising fresh entries on dips rather than chasing current elevated levels. Immediate support is identified at Rs 200–195, with Rs 175–180 acting as a crucial demand zone.
- Hitesh Tailor, Technical Research Analyst at Choice Broking: Tailor observed that Adani Power, trading around Rs 230, has witnessed a sharp upside rally on the weekly timeframe, reflecting robust bullish momentum. He suggests that any pullback towards the Rs 190–Rs 200 zone could serve as a healthy retracement and provide support. A sustained move above recent highs may extend the rally towards Rs 235, and potentially Rs 250, supported by Fibonacci extension levels. While the overall structure remains strongly bullish, near-term consolidation or profit booking at higher levels is anticipated before the next upward movement.
- Jigar S Patel from Anand Rathi: Patel indicated that support for the stock is at Rs 215, with resistance at Rs 230. A decisive breakout above Rs 230 could pave the way for further upside towards Rs 235. For the short term, the stock is expected to trade within the Rs 215–Rs 235 range.
Please note: This article provides market news for informational purposes only and should not be considered investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.