Adani Power's stock target set at Rs 595

Adani Power is gaining attention as Cantor Fitzgerald has started coverage with an 'overweight' rating. The firm set a target price of Rs 595, highlighting the company's strong position in thermal power generation in India. Adani Power operates 11 thermal plants and one solar plant, with a total capacity of 17.5 GW. It is the largest private thermal power generator in India, trailing only state-owned NTPC. Cantor Fitzgerald noted Adani Power's solid balance sheet and growth potential, expecting the company to add 12.5 GW of capacity in the next five years. The firm believes the stock is attractively valued compared to peers.