Stock Market Today: Adani Power Share Price A significant increase was seen during the morning trades. Adani Power’s share price opened higher today. 749.90 per share on the NSE. It touched an intraday high. 790 a piece within minutes of the opening bell, up nearly 9 percent intraday from Wednesday’s close. 726.65 per piece. This increase is attributed to expert analysis. Stock market Professionals, who have noted that Adani Power’s share price is skyrocketing today due to Adani Group company’s complete takeover of Mirzapur Thermal Energy (MTE) in UP.

Adani Power’s share price rally boost

Commenting on the reasons behind the rise in Adani Power’s share price, Avinash Gorakshkar, Head of Research, Profitmart Securities said, “Adani Power has informed the Indian stock exchanges that Adani after the Mirzapur thermal energy preferential allotment in UP. Power has become a subsidiary. Adani Group’s company for MTE’s stake in Adani Power has completed its takeover of MTE, triggering a new acquisition of Adani Power’s stake.

Also read: Gold prices rise as US dollar rates, Treasury yields slip; US Fed rates in focus

Adani Power Share Price Target

When asked about the future of Adani Power shares, Sumit Bugadia, Executive Director, Choice Broking expressed a positive outlook, saying, “The upward trend in Adani Power shares is expected to continue, as per the chart. The pattern shows. Shareholders are advised to set a stop loss, hold the stock 730, with a near-term target of 850. This optimistic forecast should instill confidence among investors.”

Also read: Nifty 50 continues its wild swings. How should investors account for this volatility?

On an advice to fresh investors on Adani Power shares, Bagadia said, “One can buy Adani Power shares at current levels for short-term targeting. 850. However, a stop loss should be retained. 730.”

The Choice Broking expert reiterated the advice for Adani Power shareholders and new investors, saying, “It is advisable to maintain a buy-on-dips strategy for Adani Power shares as long as the stock is up.” Lives. 730 per share level.”

In an exchange filing, Adani Power said, “Regarding the captioned subject, we wish to inform you that the company has been offered by Mirzapur Thermal Energy UP Private Limited (“MTEUPL”) 50 shares of Rs.10/- each. ,00,000 equity shares have been allotted.) on preferential basis resulting in 99.8% equity stake in MTEUPL, consequently MTEUPL has become a subsidiary of the Company.

abandonment: The above views and recommendations are those of individual analysts, experts and brokerage firms, and not of Minutes. We advise investors to consult certified experts before making any investment decision.

You are on the mint! India’s #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click here!



Source link