Elara Securities has initiated coverage on Adani Power with an Accumulate rating and a target price of Rs 220, implying 17% upside. The brokerage expects capacity expansion from 18.3 GW to around 42 GW by FY32 to drive growth, while flagging execution risks, rising debt and limited valuation headroom.
Elara Securities has initiated coverage on Adani Power with an Accumulate rating and a target price of Rs 220, implying 17% upside. The brokerage expects capacity expansion from 18.3 GW to around 42 GW by FY32 to drive growth, while flagging execution risks, rising debt and limited valuation headroom.
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