Adani Power shares are on a roll in the short term. The Adani Group stock has surged 43% in three months with analysts predicting more upside in the near term.
One of them expects the stock to add more gains after decisively breaching the Rs 175 mark.
Amruta Shinde, Research Analyst at Choice Broking is bullish on the outlook of the stock.
“Adani Power has shown a sustained recovery from recent lows, though some profit booking has emerged at higher levels. Holding above these levels could support further bullish momentum. A decisive move above Rs 175 is crucial to trigger the next leg of the rally, potentially extending towards Rs 180-185 in the near term. Technically, the weekly RSI at 81.59 is trending sideways, suggesting consolidation, while the broader structure remains constructive, supported by a rounding bottom pattern and the stock trading comfortably above its 20-, 50-, 100-, and 200-day EMAs, reflecting strong momentum across all time frames. Immediate support is at Rs 160, with Rs 156.80 as a stop-loss. While profit-booking may occur, a breakout above Rs 175, aided by increased retail participation, could fuel the next phase of upside,” said Shinde.
The power sector stock hit a record high of Rs 182.75 on September 23, 2025, a day after the stock traded ex split in a ratio of 1:10.
The stock is in an uptrend in the short term rising 60% in 2025.
The multibagger Adani Group stock has gained 2,282% in five years and climbed 166% in two years.
In the current session, the Adani Group stock rose 2% to Rs 1690.25 against the previous close of Rs 165.30. A total of 31.56 lakh shares of the Adani Group firm changed hands amounting to a turnover of Rs 52.93 crore.
Adani Power stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Meanwhile, Shiju Koothupalakkal, Technical Research Analyst at PL Capital expects the stock to cross Rs 200 mark in the near term.
“The stock has recently witnessed a strong spurt scaling the peak level of Rs 182 zone where it found resistance and witnessed a short period of correction to consolidate near the Rs 145 level and with a second attempt has once again surged ahead to hit the Rs 175 zone finding resistance and slipping down. The volume participation has much improved and with the bias improving, it would need a decisive breach above the tough resistance zone of Rs 178-182 levels, which can trigger for a breakout with next higher targets of Rs 207 and Rs 224 levels achievable. Currently, with some profit booking in near term, the support for the stock is positioned near Rs 155-150 zone which needs to be sustained to maintain the overall bias intact,” said Koothupalakkal.
Samco Securities has a 12-month target price of Rs 240 on the Adani Group stock. The brokerage said Adani Power trades at a trailing P/E of 22-23 times and EV/EBITDA of 14-15 times, which is a premium to public-sector peers but justified by its superior earnings visibility, balance sheet improvement and growth trajectory.
“Adani Power remains well-positioned to benefit from rising power demand and capacity expansion in renewable and hybrid projects over the medium term. One can look to add in the range of Rs 145-152 with a target of Rs 230-240 and a stop loss of Rs 120,” Samco Securities noted.