Fundamental

ADANI POWER 

Ticker : 533096
BUY: Rs61.85
Target: Rs70 

Adani Power Limited is engaged in the business of providing electric power generated by coal-based thermal power plants and coal trading. On the consolidated financial front, for Q1FY20, the company reported total income of Rs. 8014.5 crore, an increase 102.42 per cent from Rs. 3959.4 crore in Q1FY19. Due to fluctuations in crude oil prices and certain coal issues, the company incurred an operating loss of Rs. 121.75 crore in Q1FY20. The company reported a net loss of Rs. 263.39 crore, which is comparatively less than the net loss of Rs. 825.15 crore reported in Q1FY19. The company’s operations are expected to improve as oil prices seem to have become stable. Meanwhile, Adani Power has completed its acquisition of GMR Chhattisgarh Energy Ltd recently. Thus, we recommend a BUY.