Adani Power Shares Jump Nearly 6%, Nifty Energy Stocks NTPC, Tata Power, JSW Energy, and NHPC Gain on April 21

Adani Power Share Price Today: Shares of Adani Power Limited, the largest private thermal power producer in India, continued their upward trend on Monday morning, gaining Rs 30.40, up by 5.53 percent to trade at Rs 580.10 at 10.46 AM. The stock opened at Rs 551.25 and climbed to an intraday high of Rs 585.55. This rise follows strong trading activity and growing investor interest in the power sector, especially with rising electricity demand across the country. The previous closing price of the stock was Rs 549.70.

Nifty Energy Stocks on April 21: Check Power Share Prices for Tata Power, NTPC, JSW Energy, and Others

Adani Power led the gains among power sector stocks, reflecting strong interest from institutional investors. Other major power sector companies such as National Thermal Power Corporation (NTPC), Tata Power, Jindal South West, popularly called as JSW Energy, and National Hydroelectric Power Corporation (NHPC) also traded in the green. As of 10:49 AM, NTPC was trading at Rs 367.40, up by 0.93% or Rs 3.40. Tata Power gained 2.87%, trading at Rs 392.65, an increase of Rs 10.95. JSW Energy saw a rise of 0.66%, reaching Rs 511.25, a gain of Rs 3.35. NHPC also recorded a notable rise of 1.82%, trading at Rs 86.53, up by Rs 1.55.

Adani Power Stock's Technical View: Should You Buy Power Stocks?

From a technical point of view, analysts have noted that Adani Power has key support levels around Rs 550 and Rs 536. These are price levels where the stock is expected to find buying interest if it falls. On the upside, the stock is facing resistance around Rs 570 to Rs 580. If it crosses Rs 585, analysts say it could trigger a breakout and move even higher.

Brokerage firms remain optimistic about Adani Power's long-term prospects. HDFC Securities has reportedly called the stock a structural play on rising power demand and better use of thermal plants, advising investors to hold it for the long term.

ICICI Direct has also given a positive outlook, saying the current valuation looks attractive and the company stands to benefit from expanding EBITDA and gains from captive power usage, as per reports.

What are the Factors Fuelling Power Stocks?

There are several factors fuelling the Adani Power rally. One of the main reasons is the increasing electricity demand due to the ongoing heatwave and rising temperatures in many parts of India. As more power is needed to run fans, air conditioners, and other cooling appliances, investors are betting on power companies like Adani Power, NTPC, Tata Power, JSW Energy, NHPC and others to benefit from this seasonal surge. This has also created a positive sentiment across the entire power and infrastructure sector.

Market experts believe that the Adani Power Limited's fourth-quarter results could get a boost from higher merchant power rates and better load factors. These factors reflect how efficiently the company is using its power plants. The recent buying interest also follows a consolidation phase where the stock remained stable, giving investors confidence to accumulate it now for potential gains.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firms nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.