Adani Power shares soar 9% as Morgan Stanley initiates coverage with ‘Overweight’ rating, 30% upside seen

Adani Power share price: Morgan Stanley initiated coverage of Adani Power with an Overweight rating and a Rs 818 price target, seeing nearly 30% upside. The brokerage highlighted the company’s large coal-based capacity, growth plans to 41.9 GW by FY32, and robust long-term PPAs under India’s SHAKTI policy.