Adani Power's stock soars on coal mine approval
Adani Power's stock got a solid boost this week after it secured approval for an underground coal mine in Nagpur.
The new mine is set to supply 2 million tons of coal each year for the next 30 years and is expected to create over 2,400 jobs.
Hydro project in Bhutan
Adani Power is also growing its clean energy side, teaming up with Bhutan's Druk Green Power Corp (DGPC) for a big 570 MW hydro project.
Plus, they just announced their first-ever stock split—each ₹10 share will soon become five ₹2 shares—making it easier for everyday investors to get involved.
Price target of ₹350 per share
Shares have climbed 8% in just three sessions and are up 20% so far this year.
With upcoming GST changes possibly cutting coal costs by up to 10%, analysts think Adani Power could see even better margins ahead—a sign of strong momentum as the company balances both traditional and renewable energy moves.