Adani Power shares up 27% in 2026 but Elara sees 16% more upside - What’s powering stock? Target price
Adani Power set out an expansion.
· LiveMint Markets
Elara Capital sees thermal power’s role in India’s energy system and Adani Power’s planned capacity growth as supportive of the company’s outlook. It initiated coverage with an Accumulate rating and a ₹220 target price, noting that the shares’ recent gains limit valuation upside.
The analysis
Adani Power reported ₹220, with movement of 27% and 16% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +0.5% on the day at ₹189.00, and has returned -12.6% over three months. It sits 24% below its 52-week high. The power sector has moved -13.3% over the same period, so Adani Power is running 0.7 points ahead of its peers.
For Adani Power, the question is how much of this is already reflected in the price and how much re-rates the power peer set alongside it.
Market context
- The company directly in focus is ADANIPOWER.
- Sector exposure: Power, Capital Goods & Engineering, Capital Markets.
- The immediate tone of coverage reads positive.
In this story
Related coverage
Delhi protest: Police release all detained except CJP leaders; key faces detained & released
Jefferies Stays Overweight On India Despite 16% Dollar Slide This Year: Chris Wood's Case Explained
Adani Power shares rise despite US-based FPI GQG Partners trimming stake in Gautam Adani-led company
Delhi on alert ahead of CJP protest: Traffic curbs, metro disruptions, internet restrictions imposed
Delhi Protest: From Schools To Liquor Shops, Metro & More | Here's What Is Open And Closed On Oct 10 Amid CEC Row