Adani Power stock gives 29 pc return in 14 days as share price surges

Adani Group’s power business arm, Adani Power, continued its upward trend for the eighth trading session, with its share price rising by 2.78 percent to Rs. 242.50 today.

The share price surge has been an impressive 29.47 percent in just 14 days, as it has risen from Rs 187.30 on April 19. This impressive rise in the share price of Adani Power has helped the company recover 78.08 percent from its 52-week low of Rs 132.55, which was seen on February 28, 2023.

Buy, sell or hold Adani Power shares?

While the share price of Adani Power dipped earlier due to the Hindenburg report, it has now recovered significantly. However, technical analysts have mixed opinions about the further rise of Adani stocks.

Some predict that the stock will rise to Rs 265-290 levels, while others suggest profit booking. Investors are advised to exercise caution and do their due diligence before investing in Adani stocks.

Gautam Adani’s net worth surges

The surge in Adani Power’s share price has also resulted in an improvement in the net worth of Gautam Adani, Chairman of Adani Group. Today, he emerged as the top winner on the world’s rich list, as his net worth surged by USD 520 million.

Today’s top five winners

Today’s top five losers

Though the rise in the share price of Adani Power has been impressive, and the company has recovered well from the dip it experienced earlier, it remains to be seen whether the stock will continue its upward trend or not.