Adani Power is a ‘formidable coal franchise’, Morgan Stanley says, share price surges
Adani Power Ltd. surged on Friday after Morgan Stanley initiated coverage of the stock with an overweight rating due to its “formidable coal franchise”.
Adani Power’s share price rose as much as 8.80% to ₹686.95 apiece on the National Stock Exchange even as the benchmark NSE Nifty 50 traded half-a-percent lower. The stock is also tracking Adani Group shares, all of which are trading 1-10% higher after SEBI’s order in the Adani-Hindenburg case.
