Adani Power Stock: If you are thinking of investing money in Adani group stocks, then you can keep an eye on the stock of Adani power. Shares of Adani Power have made their shareholders rich this year by giving excellent returns. Shares of Adani Power have given returns of more than 188% in the last four months. Brokerage houses are bullish on this stock and are giving buy advice. On Friday, the shares of Adani Power closed at Rs 291.75 with a gain of 4.98%.
188% return in a year
Shares of Adani Power have given a stock return of 188% this year. On May 3, 2022, the price of this share was just Rs 101.30, which has now increased to Rs 291.75. During this period, if an investor had invested Rs 1 lakh in this stock, then today this amount would have increased to Rs 2.88 lakh. The stock has gained 32.19% in the last one month. At the same time, this stock has risen up to 8% in the last five trading sessions.
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Share price will go up to Rs 340
According to IIFL Security, the shares of Adani Power are showing very strong and positive signs. These shares can go up to Rs 330 to 340 in the short term. It can be bought at Rs 275-280.
Also read- This share increased from 19 paise to Rs 6, in 12 months made 1 lakh of investors ₹ 31 lakh
Bumper profit for the company in the March quarter
The company has made a bumper profit in the March quarter. Adani Power’s consolidated net profit jumped manifold in the March 2022 quarter. Adani Power has made a profit of Rs 4,645 crore in the January-March 2022 quarter. Adani Power’s consolidated total revenue grew 93 per cent year-on-year to Rs 13,308 crore in the January-March 2022 quarter, as against Rs 6,902 crore in the same period last year.