News for Adani Power Limited (ADANIPOWER.BO)

The 30-share BSE Sensex closed down 12.85 points at 74102.32

The 30-share BSE Sensex was down 218.87 points at 73896.3

The NSE Nifty index was trading 85.96 points up at 22638.45

The 30-share BSE Sensex was up 236.96 points at 74569.54

Investors became richer by nearly Rs 8 lakh crore on Wednesday as benchmark BSE Sensex surged by 740 points amid value buying in utilities and power shares and a strong trend in global markets. The 30-share BSE Sensex surged by 740.30 points or 1.01 per cent to close at 73,730.23.

Shares of Adani Power Ltd have lost 46% lower from their record high but ICICI Securities is positive on the recovery. Adani Power stock reached a record high of Rs 896.75 on June 3, 2024. However, it is trading at Rs 482.30 in the current session. The brokerage said legal disputes on power purchase agreements (PPAs) are largely resolved with Adani securing compensation and higher tariffs. ICICI Securities has assigned a price target of Rs 600, a 24% upside to the current price.

The 30-share BSE Sensex closed down 112.16 points at 73085.94

The 30-share BSE Sensex was down 300.34 points at 72897.76

Tata Power vs Adani Power: While Tata Power stock is trading near its 52-week low of Rs 326.25 reached on February 17 this year, Adani Power shares have surged 16% from their 52-week low of Rs 430.85 hit on November 21, 2024.

Adani Powers stock has fallen 12.26% over the past year and 24.32% in the last six months. However, the shares have bounced back with a 14.36% increase in the last three months and a 3.72% gain over the past week.

The 30-share BSE Sensex was up 21.43 points at 74623.55

The Nifty Auto index closed 0.51 per cent up at 21662.65.

The Nifty IT index closed 0.8 per cent down at 39131.3.

The NSE Nifty index closed 5.8 points down at 22547.55

The Nifty Bank index closed 0.09 per cent down at 48608.35.

The Nifty Realty index closed 1.31 per cent down at 826.65.

The Nifty Pharma index closed 0.69 per cent down at 20249.15.

The NSE Nifty index closed 5.8 points down at 22547.55

Stock market update: M&M, Bharti Airtel, Bajaj Finance, Adani Enterprises, and Adani Ports among top gainers; Hindalco, Dr Reddy’s, TCS, Sun Pharma drag.