Shares of Adani Power: After hitting the lower circuit in two consecutive seasons, The share price of Adani Power saw some recovery in Thursday’s session and closed almost 1.25 per cent higher at 395.40 on NSE. According to Share Market According to experts, the shares of Adani Power have been placed in Phase IV of ASM monitoring by the market regulator Securities and Exchange Board of India or SEBI. He said that SEBI has done this to prevent speculation and high volatility in the stock to ensure the safety of the money of retail investors. Market experts say that in the near future, there may not be a major rally or fall in the share price of Adani Power but it is expected to see lesser volume trading which will lead to some further downside in the counter. However, he added that the stock is a quality stock and the power theme is expected to attract the bulls in the short to medium term and positional investors have a good opportunity to take positions at lower levels in this 2022 multibagger stock.
Speaking on the recent fall in the share price of Adani Power, Avinash Gorakshakar, Head of Research, Profitmart Securities said, “Taking note of the high volatility and speculation in the shares of Adani Power, SEBI on Monday approved the Adani Group in Phase IV of ASM Monitoring. The market regulator’s decision squeezed the trading volume of the stock on Tuesday and Wednesday, resulting in a lower circuit hit. However, Adani Power is a quality stock and the power theme is likely to work in the next one to two years. As the demand in the sector is growing at 5-6 per cent per annum and there has not been any new major investment in this sector in the last decade. Hence, the demand-supply constraint favors quality power stocks like Adani Power. going to work.”
Sumeet Bagadia, Executive Director, Choice Broking, advising positional investors to wait for some further correction in Adani Power shares, said, “Adani Power is in the range of share price. from 350 425. Stock is facing strong resistance at 425 and the stock is unlikely to break this barrier after the SEBI move. So, Adani Power share price may be right 350 level, which would be a good buy range for short to medium term investors. Anyone can buy this share of Adani Group from 335 360 eps range while maintaining stop loss 320 per share level.”
Adani Power share price has opened lower today and has reached intraday low On Friday morning deals were down 380 per cent, with a drop of 380 per cent. It is one of the multibagger stocks that the Indian stock market has produced in 2022. Shares of Adani Power have given 280 per cent year-on-year return to its shareholders.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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