Adani Power Share Price Up 0.56% After MSEDCL Contract Momentum

Mumbai, March 17: Adani Power shares traded higher on Tuesday, with the stock at ₹154.92 as of 10:49 AM IST, up 0.56 per cent from the previous close of ₹154.06 on the NSE, as the stock held gains following its recently announced long term power supply contract.

The stock showed mild upward bias in early trade, though momentum remained range-bound after the initial uptick.

Why Adani Power Share Price Moved

The ongoing support in Adani Power share price follows the company’s March 15, 2026, regulatory disclosure confirming receipt of a Letter of Award from Maharashtra State Electricity Distribution Company Limited.

The contract involves long term supply of 1,600 MW thermal power under a 25-year Power Supply Agreement, with a quoted tariff of ₹5.30 per kWh. The company had emerged as the successful bidder through a competitive tender process conducted by MSEDCL.

While the announcement triggered earlier buying interest, the March 17 session reflects continuation rather than fresh triggers.

Adani Power Stock Performance Snapshot

Adani Power share price stood at ₹154.92 as of 10:49 AM IST on March 17, 2026, marking a gain of 0.56 percent over the previous close of ₹154.06.

So far in the session, the stock opened at ₹156.00 and touched a high of ₹157.44 before easing to a low of ₹154.53. The movement indicates some profit booking after early gains.

The company’s market capitalisation is around ₹59.72K Cr, with a price to earnings ratio of 25.43. The stock’s 52 week high remains ₹182.70, while the 52-week low is ₹92.40.

Broader Market and Sectoral Context

Thermal power companies have been seeing renewed investor attention amid rising electricity demand and increasing preference for long term supply agreements by distribution companies.

In contrast to renewable energy volatility, baseload thermal capacity continues to provide stability to the grid, especially during peak demand periods.

The inclusion of coal linkage in such bids also reduces fuel risk, which is a key factor for investors tracking the sector.

About the Company

Adani Power Limited is one of India’s largest private sector thermal power producers, with an installed capacity of over 18 GW across multiple states.

The company is expanding its generation footprint significantly, with a large pipeline of under implementation projects aimed at meeting rising domestic power demand.

Conclusion

Adani Power shares remained in positive territory on March 17, extending gains after the MSEDCL contract announcement, though the pace of increase moderated. The stock’s near term trajectory is likely to depend on follow through triggers and broader market cues.

Source:

• https://nsearchives.nseindia.com/corporate/ADANIPOWER_15032026161641_APLLoAfromMSEDCL15032026.pdf
• https://www.nseindia.com/get-quote/equity/ADANIPOWER/Adani-Power-Limited