Shares of Adani Power rose over 2% on Tuesday, extending their recent gains, as the stock continued to rally on the back of a major order win and improving demand outlook.
The Adani Group stock climbed to ₹157.50, marking its highest level in three months, after surging more than 5% in the previous session following the announcement of a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company. With this, the stock has gained 7.5% over the last two trading sessions.
The rally has also been supported by expectations of higher electricity demand, as temperatures are forecast to remain above normal levels this summer, boosting power consumption across the country.
Order win boosts outlook
Adani Power said it has secured a LoA from MSEDCL for the supply of 1,600 MW of electricity from one of its upcoming ultra-supercritical thermal power projects. The supply will be under a proposed 25-year Power Supply Agreement (PSA), with operations expected to commence from FY31.
The company added that the first-year quoted tariff stands at ₹5.30 per kWh, as per its regulatory filing dated March 15.
“With India’s power demand continuing to rise steadily, long-term and reliable capacity addition is critical to ensure energy security,” said SB Khyalia, CEO of Adani Power.
“This LoA from MSEDCL reflects the competitiveness of Adani Power’s cost structure, our ability to deliver dependable baseload power, and our commitment to supporting India’s growing electricity needs through long-term partnerships. As India’s leading private power producer, we are keen to support Maharashtra’s and the nation’s ambitious development goals with a reliable and affordable electricity supply,” he added.
Following this order, Adani Power has tied up long-term PSAs for 13.3 GW out of its total under-implementation pipeline of 23.8 GW, indicating steady progress toward securing nearly its entire capacity under long-term contracts.
More than 95% of the company’s existing operating capacity of 18.15 GW is already tied up under medium- to long-term PSAs. Additionally, over 55% of its upcoming 23.8 GW capacity is secured under 25-year agreements.
The company also highlighted that this marks another key win amid a renewed investment cycle in the thermal power sector. During FY25–26, Adani Power has secured five long-term PSA bids with a total capacity of 10,400 MW.
Adani Power is currently undertaking India’s largest private-sector thermal power expansion, aiming to scale its capacity from 18.15 GW to 41.87 GW by FY32, with planned investments of around ₹2 lakh crore.
Adani Power stock performance
The Adani Group stock has delivered robust returns across timeframes. Adani Power shares have risen 7.5% in the past one month and gained 23% over six months. On a one-year basis, the stock is up 52%, while it has surged an impressive 789% over the past five years, giving multibagger returns.
Despite the recent rally, the stock is still about 14% below its 52-week high of ₹182.75, touched in September 2025. On the downside, it had hit a 52-week low of ₹94.41 in April 2025, indicating significant recovery since then.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
