The first trading session of 2026 witnessed a powerful surge in Adani Power Limited's stock, with shares climbing a sharp 7% to reach ₹153 each. This level marks the stock's highest point since November 20, representing the most significant single-day jump the share has seen in over two months. The rally occurred even as the broader Indian equity markets showed limited movement, staying largely range-bound.
Technical Breakout and Expert Analysis
While no immediate company-specific news triggered the sharp price movement, trading activity exploded. Data from Trendlyne indicated that nearly 50 million shares were traded on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) by 12:45 PM. This volume was roughly four times higher than the average weekly trading volume for the stock.
From a technical perspective, analysts observed a key development. Anshul Jain, Head of Research at Lakshmishree, noted that Adani Power's price was attempting a breakout from a six-week consolidation pattern near the ₹146 level. The stock successfully reclaimed its 10-day, 20-day, and 50-day Exponential Moving Averages (EMAs) on the daily chart.
"On higher timeframes, the 20-week EMA has acted as a clear launchpad, supporting the current rebound. The structure signals a tactical recovery rather than a trend reversal, as the stock remains locked in a broader consolidation phase," Jain explained.
He added that a sustained closing price above ₹146, backed by strong volumes, could propel the stock further towards the ₹158 to ₹160 range. However, he cautioned that this zone might face selling pressure due to the larger weekly chart structure. "Risk–reward favours short-term trades, not positional longs. The rally is expected to lose steam near ₹160, with price likely reverting into consolidation thereafter," Jain opined.
Aggressive Growth Ambitions and Long-Term Performance
The surge comes against the backdrop of the company's ambitious expansion plans. Led by billionaire Gautam Adani, the power utility is aggressively scaling up to meet India's soaring electricity demand. According to a PTI report from December 24, citing sources, the company has sharply raised its long-term installed capacity target to 41.87 gigawatts (GW) by FY32, up from an earlier goal of 30.67 GW by FY30.
To achieve this, Adani Power has committed a massive capital expenditure of approximately ₹2 lakh crore, signaling one of the most aggressive private-sector expansions in India's thermal power sector. Furthermore, earlier reports suggested the Adani Group is in discussions with the Uttar Pradesh government to construct eight small modular reactors of 200-megawatt capacity each.
This aligns with the Indian government's recent policy shift. On December 18, the landmark Atomic Energy Bill was approved, opening the nuclear power sector to private and foreign investment. The country aims to increase its nuclear capacity tenfold to 100 GW by 2047.
Stock Performance and Milestones
It is important to note that Adani Power shares have been trading on an ex-split basis in a 1:5 ratio since September 22. Despite a sell-off after hitting a record high of ₹182.70 in September 2025, the stock managed to close the year with an impressive 35% gain for 2025, marking its fifth consecutive year of positive returns.
The company achieved several key milestones in 2025:
- Expanded its power generation capacity by acquiring Vidharbha Industries and Power Ltd near Nagpur.
- Committed to investing over $22 billion in projects through 2032.
Over the longer term, Adani Power has been a stellar performer, delivering a 149% return over three years and an astronomical 1,400% surge over the past five years, making it one of the top performers within the Adani Group portfolio.
Disclaimer: Investors are advised to consult certified investment experts before making any financial decisions.
