Adani Power hits fresh 52-week high on nuclear expansion. Shares surged over 3% to Rs 205.35 following the incorporation of Coastal-Maha Atomic Energy, a wholly-owned subsidiary focused on nuclear and atomic energy generation. The stock has rallied approximately 13% in one week and 35% in one month, driven by expectations of heightened power demand as India enters peak summer season. Analysts project significant demand growth during the upcoming months, particularly if El Niño conditions persist, similar to 2015 and 2019 when peak demand surged 4-9%. Adani Power is positioned as a key beneficiary of anticipated coal-fired generation increases and high merchant power prices as hydro generation faces expected shortfalls during the dry season.
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