Jefferies initiates coverage on Adani Power with buy rating, foresees 31% upside

Jefferies: Jefferies remains positive on Adani Power, citing its aggressive expansion plan. The company aims to nearly double thermal capacity from 17.6 GW to 30.7 GW by 2030. Backed by a strong project pipeline, land acquisitions, and secured financing, the expansion is progressing on schedule, reinforcing confidence in its long-term growth potential.