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The Economic Times

Business

Somanjali Das

Motilal Oswal initiates coverage on Adani Power with Buy call, sees 20% upside. Time to hold or sell?

Adani Power Motilal Oswal Nuclear Power

Motilal Oswal has initiated coverage on Adani Power with a Buy rating and a target price of Rs 250, implying a potential upside of 20% from the report’s reference price of Rs 208. The brokerage valued the company at 16 times its estimated FY29 EBITDA.

On Thursday, Adani Power shares were trading at Rs 211 on the National Stock Exchange, up Rs 3.43, or nearly 2%, from their previous close of Rs 207.70.

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