Should I Buy Adani Power Stock in 2025? Expert Analysis for IN Investors

What is Adani Power?

How much is Adani Power stock?

The price of Adani Power stock is declining this week. As of today, Adani Power is trading at ₹562.25, reflecting a 0.57% decrease over the past 24 hours and a 0.47% drop compared to last week.

Investors should note that while the stock is relatively active and poised for growth in India’s expanding power sector, it may experience price swings typical of the industry.

Our full analysis on Adani Power stock

Having rigorously reviewed Adani Power’s latest financial results alongside its stock performance over the past three years, our analysis leverages a blend of quantitative indicators, technical signals, sector intelligence, and peer benchmarking—processed through our proprietary analytical algorithms. Adani Power’s operational scale and trajectory in India’s evolving power landscape create a compelling narrative for investors seeking robust growth exposure. So, why might Adani Power stock once again become a strategic entry point into the utilities and infrastructure sector for 2025?

Recent Performance and Market Context

Adani Power’s market action in 2025 reflects robust dynamics within the Indian power sector. The stock currently trades at ₹562.25, reflecting a 30.15% appreciation from its 6-month low of ₹432, signaling a strong recovery following a period of volatility. While the one-year performance shows a 37% pullback from its ₹895.85 high, this correction mirrors sector-wide consolidation after outsized gains in late 2023 and 2024. Average daily volumes remain healthy at 5.83 million shares, underscoring sustained institutional and retail interest.

• Adani Power secured a high-value contract to supply 1,500 MW to Uttar Pradesh, locking in revenues at attractive rates.
• Strategic expansion is accelerating, with planned capacity growth from 17,550 MW to 30,670 MW by 2030—nearly doubling its installed base.
• The company redeemed a significant portion of its perpetual securities using surplus cash, demonstrating financial discipline even as capex rises.

Macros reinforce the positive outlook. India’s all-India power demand rose 4.2% in FY25—the highest in Asia—fueled by industrial growth, early summer spikes, and accelerating urbanization. Government policies emphasizing grid reliability, energy security, and modernization, particularly for established sector leaders, create workable tailwinds. Adani Power, as the largest private thermal power producer in India, stands to benefit from policy-driven stability and preferential access to project opportunities.

Technical Analysis

• Relative Strength Index (RSI): Maintains neutral posture in the 45-55 band, minimizing overbought/oversold risks while signaling open ground for upward movement.
• MACD: Demonstrates the onset of bullish momentum, with positive crossovers and histogram expansion in recent sessions.
• Moving Averages: The stock is currently trading above its 20-day (₹550), 50-day (₹540), and 100-day (₹530) moving averages. These readings suggest positive medium-term momentum, with price action forming a reliable base above these key technical levels. The only lagging mark is the 200-day MA at ₹600; a potential cross of this threshold would be a classic bullish confirmation.
• Support & Resistance: Firm support exists at ₹549.13 and ₹532.77, limiting downside risk, while resistance at ₹575.83 and ₹586.17 represents near-term targets. Technical signals show a neutral trend, but with an evident build-up of positive momentum.

Overall, Adani Power’s technical picture suggests the stock is consolidating above critical supports, amassing strength for a potential breakout—particularly should fundamental or macro catalysts materialize as expected.

Fundamental Analysis

• Revenue: Q4 FY25 revenue climbed 6.5% YoY to ₹14,237 crore, while full-year FY25 saw a robust 10.8% YoY increase to ₹56,473 crore.
• Profitability: Despite a temporary softness (Q4 EBITDA fell 3.3%, net profit declined 5% YoY), full-year figures highlight operational leverage: EBITDA surged 14.8%, while profit before tax advanced 21.4%. Return on capital employed (ROCE at 22.5%) and return on equity (ROE at 25.6%) both reinforce management’s capital discipline and asset efficiency.
• Growth Capacity: Power generation expanded by 19.5% to 102.2 billion units in FY25, outpacing sector averages and reflecting higher plant load factors (PLF increased to 70.5%).

Valuation-wise, Adani Power trades at a P/E of 17.0—reasonable both relative to historical averages and in context of national peers, considering the company’s multi-year visible growth pipeline. The price-to-book ratio, given a book value of ₹146 per share, highlights considerable embedded asset value and margin of safety.

Structurally, Adani Power’s operational strengths include:

• Dominant market share as India’s largest private thermal power player.
• Geographically diversified assets across high-growth states.
• Advanced plant technology (supercritical/ultra-supercritical units).
• Secure revenue visibility due to long-term power purchase agreements (PPAs).

The lack of a current dividend may deter some income-oriented investors; however, for those focused on capital gains and compounding operational expansion, the fundamentals justify renewed interest at current levels.

Volume and Liquidity

Market confidence in Adani Power endures, evidenced by strong and consistent trading activity. The average daily volume of nearly 6 million shares reveals robust participation by both retail and institutional actors. Despite a relatively modest public float (with concentrated promoter and institutional holdings), liquidity remains sufficient to support sizable transactions without undue volatility, while limiting the float may prove favorable to dynamic valuation uplift should demand increase.

Catalysts and Positive Outlook

• Capacity Expansion: The clear roadmap to nearly double generation capacity by 2030—via both brownfield and greenfield projects—provides visibility and suggests a structural jump in earnings potential.
• Contract Wins: New supply agreements, such as the 1,500 MW Uttar Pradesh contract, offer stable cashflow and further order book insulation.
• Secular Tailwinds: National demand growth, early summer-induced peak pricing, and persistent industrialization are driving a favorable price and utilization environment for thermal generators.
• Sustainability: Enhanced ESG credentials—S&P Global score of 67/100 (86th percentile), CSR HUB ESG rating at 88% (above industry average)—reflect improved operational stewardship and growing relevance for ESG-focused capital. Notably, 102% fly ash utilization and reduced water intensity reinforce this credibility.
• Operational Efficiency: The improvement in plant load factors and vertical integration with Adani Group entities further raises margin and reliability profiles.

Industry trends—growing electrification, ongoing regulatory support, and new industrial policy—combine with Adani Power’s scale and execution to create a context in which upward re-rating remains a strong possibility.

Investment Strategies

• Short Term: The technical support at ₹549.13, together with growing positive MACD and momentum above key moving averages, offers a potential entry point at a relative technical low. Acute traders may consider accumulation near current levels, targeting a move towards the ₹575–₹590 resistance zone, especially with any breakout above the 200-day average (₹600) likely to usher in accelerated bullish momentum.
• Medium Term: With upcoming catalysts—new project commissioning, quarterly results, and progress on receivables collection—buying now could allow investors to capture value before consensus upgrades materialize.
• Long Term: The multi-year expansion plan, improving efficiencies, and embedded infrastructure value make Adani Power a compelling allocation for those seeking prolonged exposure to India’s secular power growth. Entry at these levels enables participation in both organic and strategic upside, while technical consolidation suggests downside may be increasingly limited.

Positioning ahead of forthcoming capacity additions, and before the market fully reprices the company’s growth visibility, can secure potential alpha in both absolute and relative terms.

Is it the Right Time to Buy Adani Power?

• Key strengths include sector leadership, strong recent volume and earnings growth, efficiency gains, and a nearly doubled capacity pipeline.
• Technical momentum supports a potential shift into a renewed bullish phase, with price action consolidating above key moving averages and upside momentum building.
• Catalysts abound, from project expansions and new contracts to macro tailwinds and government support, all set against tangible ESG improvement.
• Valuation remains undemanding, especially considering historic multiples, asset base, and projected earnings expansion through FY30.

In summary, the convergence of robust fundamentals, favorable technical structure, visibility on multi-year growth, and supportive macro trends suggests Adani Power may represent an excellent opportunity for investors looking to participate in India’s infrastructure growth story. The current price zone, coupled with a visible path to operational scaling and strengthening market position, strongly encourages closer consideration of this dynamic stock as a buy-side candidate.

With its strategic initiatives and improving market position, Adani Power stands out as a stock that deserves renewed attention—offering upside potential in a sector fundamental to India’s development, for investors looking to align with the next phase of growth.

How to buy Adani Power stock in IN?

Buying shares of Adani Power online has become both simple and highly secure, thanks to the rise of regulated brokers in India. As a retail investor, you can choose between two main methods: purchasing actual shares (spot/cash buying) or trading Contracts for Difference (CFDs), which allow you to gain from price movements without owning the underlying stock. Both approaches are accessible via user-friendly platforms approved by Indian authorities, ensuring transparency and investor protection. You'll find a detailed comparison of top brokers further down the page to help you choose the right partner for your investment journey.

Cash buying

When you opt for spot or cash buying, you are directly purchasing Adani Power shares listed on the NSE or BSE in your demat account. This method makes you a shareholder, entitling you to voting rights and any potential corporate benefits. Indian brokers typically charge a fixed fee per trade—around ₹20 to ₹30 per order (approximately $0.25–$0.35).

Example

Suppose the Adani Power share price is ₹562 and you decide to invest $1,000 (about ₹83,000 at $1=₹83). After accounting for a brokerage fee of around ₹419 (about $5), you can buy approximately 147 shares (₹83,000 − ₹419 ≈ ₹82,581 ÷ ₹562 ≈ 147 shares).

✔️ Gain scenario

If the share price rises by 10% to ₹618, your holding is now worth approximately ₹90,894 (147 × ₹618 ≈ ₹90,894).

Result: That’s a ₹8,313 gain (about +$100) before tax and excluding fees—a +10% return on your investment.

Trading via CFD

CFD trading lets you speculate on the price movements of Adani Power without owning actual shares. Offered by global and certain Indian brokers, CFDs are leveraged products, allowing you to gain (or lose) multiple times your capital outlay. Fees typically include the “spread” (difference between buy and sell prices) and overnight financing charges if you hold positions beyond a day.

Example

You open a CFD position on Adani Power shares, investing $1,000 (₹83,000) with 5x leverage. This means your exposure is $5,000 (₹415,000).

✔️ Gain scenario

If Adani Power’s price rises by 8%, your position gains 8% × 5 = 40%.

Result: You earn $400 profit (₹33,200) on your $1,000 stake (before fees and financing costs).

Final advice

Before investing in Adani Power, it’s important to compare each broker’s fees, available platforms, and customer support, as these can impact your total returns. Remember, spot buying is often preferred for long-term investors seeking ownership, while CFDs suit active traders seeking flexibility and leverage. The right choice depends on your investment goals and risk profile. For a detailed broker comparison, consult the table provided further down this page and choose the option that aligns with your strategy.

Our 7 tips for buying Adani Power stock

The latest news about Adani Power

Adani Power secured a contract to supply 1,500 MW to Uttar Pradesh from a new thermal power plant. This development underscores the company’s strong positioning in India’s power market, as the deal was won under competitive bidding at ₹5.38 per unit. Adani Power will deliver this capacity through a new 2x800 MW ultra-supercritical plant in the state, operating under a Design-Build-Finance-Own-Operate (DBFOO) model, with expected commissioning by FY30. The win not only strengthens the company’s project pipeline but also highlights government trust in Adani Power’s execution and supports longer-term revenue visibility, a positive factor for stock performance.

The company announced robust FY25 results with revenue up 10.8% and power sale volumes rising by 20.7% year-on-year. Full-year revenue reached ₹56,473 crore, while profit before tax rose 21.4% to ₹13,926 crore and EBITDA climbed nearly 15%. Notably, FY25 sales volumes hit 95.9 billion units, demonstrating significant operational growth and effective capacity utilization. These figures reflect elevated power demand across India and Adani Power’s ability to capitalize on that trend, positioning it as a key beneficiary of ongoing economic activity and the government’s infrastructure drive in the domestic electricity market.

Adani Power is executing aggressive expansion, aiming to nearly double capacity to 30,670 MW by 2030 via brownfield and greenfield projects. Ongoing brownfield developments in Madhya Pradesh and Chhattisgarh (1,600 MW each) and recent acquisitions (MPGL, KPL, and ADTPS) are central to this growth. This strategic focus aligns with projected increases in India’s energy demand—especially given the strong uptick due to early summer and sustained peak load. By expanding, Adani Power reinforces its status as India’s largest private thermal power producer, ensuring greater scale, regional diversification, and stronger resilience against market volatility.

Technical indicators over the past week signal neutral-to-positive momentum, with the stock trading above short-term moving averages. Adani Power’s price is above its 20-, 50-, and 100-day moving averages, signaling underlying bullishness, while the MACD remains slightly positive and the RSI is neutral. The stock is currently below the 200-day moving average, setting up a potentially constructive technical backdrop if accumulation persists. These signals, paired with above-average trading volumes and positive short-term momentum, present an encouraging environment for active market participants and signal potential for further price appreciation if operational strength continues.

ESG performance and sustainability scores improved, with high marks from S&P Global and CSR HUB, and above-average efficiency metrics. The company achieved an 86th percentile rank in S&P’s Corporate Sustainability Assessment and an 88% rating from CSR HUB, outperforming global industry averages. Operational ESG metrics such as fly ash utilization (102%) and reduced water intensity further confirm Adani Power’s efforts to align with evolving investor priorities in environmental and social governance. These outcomes are not only advantageous for regulatory compliance and market image but also enhance the company’s appeal to long-term, sustainability-focused investors in India.

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P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.