Adani Power Share Price 18 May 2024 šš°
Adani Power shares were trading at ā¹652 on Thursday. However, the stock is currently experiencing a decline in value.
In India, the demand for electricity increases during the summer season, benefiting power companies like Tata Power and Adani Power. However, due to recent fluctuations in the stock market, all shares are currently trading under selling pressure.
Over the past year, Adani Power shares have provided investors with a return of 171%. The share price of Adani Power was trading at ā¹637 on Friday, May 17, 2024. On Saturday, May 18, 2024, the stock increased by 0.21% to trade at ā¹637.
According to market experts, there is a possibility of further growth in this stock. On May 16, Adani Power’s share price reached a new all-time high of ā¹652 with a 1% increase. Today, however, the stock is slightly lower.
Market experts believe that Adani Power is offering a breakout at ā¹647. If the stock breaks out with strong volume, experts suggest that the stock could reach ā¹695-710 in a short period of time.
Experts at Religare Broking firm suggest that Adani Power’s stock could provide strong returns going forward. They recommend setting a stop loss at ā¹620 when investing. During the bullish phase, the stock could touch ā¹680-685.
Due to lower cost of raw materials and increased electricity production capacity, Adani Power is expected to see strong revenue growth in the March 2024 quarter.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
