Adani Power Shares Gain on Morgan Stanley and Jefferies Optimism

Adani Power shares have recently surged, with Morgan Stanley initiating coverage on the stock with an overweight rating and a price target of ₹818, implying a potential upside of around 29%. The brokerage highlighted Adani Power's turnaround story marked by resolution of regulatory issues, value-accretive acquisitions, and expected strong earnings growth driven by project completions and new power purchase agreements (PPAs). Meanwhile, Jefferies reiterated a buy rating on Adani Green Energy with a target price of ₹1,300, expecting significant capacity expansions and improving leverage around 2030. Despite a 15.5% year-on-year net profit decline reported by Adani Power for the quarter ended June 2025, the company’s revenue grew 11.6% for the fiscal year 2025. The broader Adani Group also received a clean chit from SEBI regarding allegations by Hindenburg Research, boosting investor confidence. Overall, analysts remain optimistic about Adani Power and Adani Green Energy’s growth prospects amid their turnaround and expansion plans.