Adani Power share price surges 14% as Morgan Stanley calls it ‘Top Pick’, sets target price at ₹818 — a 30% upside
Shares of Adani Power soared nearly 14 per cent to their 52-week high of ₹719 on the BSE on Friday after Morgan Stanley initiated coverage with an ‘Overweight’ rating and set a price target of ₹818 apiece. This implies an upside potential of almost 30 per cent from Thursday’s close of ₹630. The brokerage not only reaffirmed its confidence in the company but also described it as its “Top Pick” in the utilities sector.
The stock rally was further fueled by regulatory clarity, as the Securities and Exchange Board of India (SEBI) dismissed allegations of stock manipulation linked to the Hindenburg report. The clean chit has reignited investor confidence and spurred a rally across Adani Group counters.
Morgan Stanley said…
