Adani Power Share Price: Irrespective of the mood of the market, many shares of the Adani Group have given stellar returns to their shareholders in year-on-year (YTD) time. Major benchmark indices have given zero returns to their investors during this period. In YTD time, NSE Nifty is down close to 0.45 per cent while BSE Sensex is down around 0.38 per cent, but the share price of Adani Power has risen by approx. from 101 425 at each level, provides over 300 percent returns to its positional investors.
According to Share Market According to experts, the share price of Adani Power is rising due to higher demand and consumption of electricity. He added that the stock was already in an uptrend and due to these fundamental developments and positive Q1 results, the stock has gained further momentum and may go up. 475 each level in the short term.
Speaking on the reason behind pushing up the share price of Adani Power, Avinash Gorakshakar, Head of Research, Profitmart Securities said, “Adani Power was already on an upward trajectory after coming in 2022. After that power demand due to arrival of summer And consumption moved north. Meanwhile, the company has reported positive quarterly results which acted as a catalyst for the stock rally. Hence, it is the short term fundamentals that are driving this multibagger Adani Group stock these days. are driving.”
Anticipating further upside in Adani Power share price, Sumeet Bagdia, Executive Director, Choice Broking said, “The stock is already on an upward trend and is looking further bullish on the chart pattern. stock, they can hold the stock for a short period of time. Maintaining stop loss at 475 per share 390 each level.”
The shares of Adani Power are one of the multibagger stocks produced by the Indian stock market in 2022. After the outbreak of the Russo-Ukraine war, the stock has given a strong rally due to selling in Indian and global markets. Multibagger stock has given around 45 per cent returns in the last one month while it has given more than 250 per cent returns to its shareholders in the last six months.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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