Elara starts Adani Power coverage, sees 17% upside
In short
Elara Securities started covering Adani Power and gave it an Accumulate rating, with a target price of Rs 220. The note says the company could grow capacity from 18.3 GW to around 42 GW by FY32, which implies about 17% upside.
This may support the stock, but the report also warns about execution risks, rising debt and limited room for valuation gains. It is not stated in the available reporting how quickly the expansion will progress.
What the reporting says
Elara Securities initiated coverage on Adani Power with an Accumulate rating and a target price of Rs 220, implying about 17% upside, according to publisher-supplied market summaries. The brokerage expects the company’s capacity to rise from 18.3 GW to around 42 GW by FY32, while warning about execution risks, rising debt and limited valuation headroom. The immediate market implication is a more constructive view, though key risks remain.
Why it matters
Elara Securities initiated coverage on Adani Power with an Accumulate rating and a Rs 220 target price, based on a projected capacity rise from 18.3 GW to around 42 GW by FY32. The note links the upside case to expansion, but also flags execution risk, higher debt and limited valuation headroom. The market focus is on whether the expansion can be delivered without stressing the balance sheet.