Monday, October 12
Calling it a pure play on the Indian thermal space, domestic brokerage firm InCred Equities has initiated coverage on Adani Power Ltd (APL) with an ‘add’ rating and set a target price of Rs 649 per share, implying an upside potential of 17.8% from its previous closing price.The brokerage’s outlook is based on the company’s strong presence in the thermal power segment, brownfield expansion strategy, and deleveraging progress.According to InCred, Adani Power is a pure play in India’s thermal power space with 87% of its capacity tied to long-term power purchase agreements (PPAs) that include a fuel cost pass-through mechanism.The company generated Rs 200 billion of recurring EBITDA in FY25, supported by this stable revenue mix. The remaining 17% of capacity is dedicated to merchant
As many as 76 new COVID-19 cases were reported in Maharashtra on Thursday, the state public health department said.The total of cases reported in the state since January 1, thus, rose to 597, it said in a release.There are 425 active patients at present while 165 patients have recovered. Seven patients have died since January, of which six were suffering from co-morbidities, the release said.Of the new cases, 27 were detected in Mumbai, 21 in Pune, 12 in Thane Municipal Corporation limits, eight in Kalyan Municipal Corporation, four in Navi Mumbai, one in Kolhapur Municipal Corporation, one in Ahilyanagar Municipal Corporation and two in Raigad district.The total number of patients reported in Mumbai since January 2025 is 379, said the department. One COVID-19 positive case each was report
