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Shares of Adani Power touched a record high on Monday
Shares of Adani Power on Monday touched a record high of Rs 220.8 on the bourse after opening at Rs 207 on the National Stock Exchange (NSE), buoyed by expectations that increased demand will boost earnings in the sector.
Shares of the company hit a 52-week high of Rs 220.8 per share and at 2.43 pm were trading at Rs 215.80 per share on the NSE.
In March 2022, the country is witnessing its worst power shortage since October 2021, when as many as five states including Delhi are experiencing severe coal shortages and are looking at the prospect of blackouts.
Meanwhile, a sudden surge in electricity demand in March 2022 has forced India to cut coal supplies to the non-power sector and hold fuel auction plans for utilities due to declining inventories.
Last week on April 1, shares of power plants and related companies came into focus as the S&P Bombay Stock Exchange Power index hit a 14-year high in intra-day trading, on expectations that increased demand will boost earnings.
Adani Power, Bharat Heavy Electricals (BHEL) and NTPC of the index have rallied between 5 percent to 10 percent, while Power Grid Corporation, Tata Power, Torrent Power and JSW Energy have advanced in the range of 2 percent to 4 percent. cent on the Bombay Stock Exchange.
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