Technically, Adani Power shares are trading higher than 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The stock has turned “mildly bearish” from “mildly bullish” on April 25, 2025, as per marketsmojo, a share market research platform.

Last month, InCred Equities initiated coverage on Adani Power Ltd (APL) with an ‘ADD’ rating and a price target of ₹649 per share, saying that the valuation is supported by a projected 9% profit after tax (PAT) CAGR and sustained return on equity (RoE) above 15%.

Overcoming past challenges, including a ₹2,093 crore net loss in FY18 and a ₹49,100 crore debt burden (8.9x D/E), APL has transformed through regulatory wins, such as the Supreme Court of India’s approval in respect of compensatory tariffs for Mundra plant, and operational efficiency, achieving a 71% PLF and ₹56,400 crore in revenue in FY25, it said in a report released on May 28, 2025.