Jeffers gives ‘BUY’ rating to Adani Power, 30% growth


New Delhi:
Research firm Jefferies has launched coverage with ‘Buy’ rating and 30% growth estimate on Adani Power. Jeffers has cited the growing capacity and improvement in power demand.

Brokerage has given a ‘BUY’ rating for stock with a target price of Rs 509/ share. Jefferies said that the second largest thermal power generation company is leading towards increasing the capacity by 2030 by 2030. Brokerage has said that the company needs land to increase the capacity to 30.7 GW.

According to Jeffers, the merchant capacity of Adani Group should be 12-13% by FY 2030. Jefferies believes that the demand for electricity will return to 7% level compared to recent weakness.

Jefferies hopes that in the financial year 2025-27, the loan requirements will reach 1.4 times the net date against the one times of the previous financial year.

Jefferies said that as the new capacity will start. The FY 2024-27E of Adani Power will have 10% Ebitda CAGR, which will increase to 19% CAGR as compared to FY 2027-30.

Adaani Power’s share price rose 0.28% to Rs 515.7/ shares on Monday. However, by 10:18 am it was trading at Rs 503.5/ shares with a decline of 2.13%, while the NSE Nifty 50 index had fallen by 1.02%. The stock has fallen by 10% in 12 months.

According to Bloomberg data, two analysts covering the company have given it a ‘BUY’ rating.

(Disclaimer: New Delhi Television is a Subsidiya of Amg Media Networks Limited, an adani group company.)


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