Mumbai, September 23, 2025 — Shares of Adani Power Ltd traded at ₹165.00 on the NSE as of 10:39 AM IST, slipping nearly 3% from the split-adjusted previous close of ₹170.25. The move came after a volatile session where the stock swung between ₹160.25 and ₹182.70 in early trade, as the company’s 1:5 stock split came into effect.
The adjustment, which reduced the face value of each share from ₹10 to ₹2, has made Adani Power’s stock more affordable to retail investors. As expected, volumes surged, with small traders leading the charge. However, the rally cooled quickly as profit-taking set in, showing how speculative the post-split action can be.
Why the Stock Split Matters
- Accessibility for Retail: By reducing the face value from ₹10 to ₹2 per share, Adani Power has made its stock more accessible. Retail investors, who often shy away from higher-ticket prices, see the split as an entry point into the Adani group’s flagship power play.
- Liquidity Boost: Stock splits don’t change fundamentals, but they tend to increase trading activity. More shares in circulation means tighter spreads, higher liquidity, and in many cases, short-term rallies.
- Signal Effect: For many investors, the move is also symbolic. A stock split signals management’s confidence in long-term growth — and markets are reading it that way.
Adani Power’s rally also comes at a time when the power sector is in focus. Rising energy demand, government-backed renewables expansion, and capacity additions have turned utilities into hot picks for both domestic and global investors. Peer stocks like NTPC and Tata Power also traded higher in sympathy.
The group’s broader strategy — including investments in solar, transmission, and green hydrogen — continues to draw global fund interest, helping position Adani Power as a proxy for India’s energy transition.
Investor Caution
Analysts warn that while stock splits improve liquidity, they do not enhance fundamentals. The company’s earnings power, debt load, and receivable cycle remain the true drivers of value.
At a market cap above ₹3.1 lakh crore, Adani Power is already priced for growth. The Q1 FY26 net profit of ₹3,480 crore (up 33% YoY) was strong, but the company’s expansion into renewables and thermal capacity will require continued heavy capital spending.
For retail investors, the message is clear: stock splits attract momentum, but long-term returns depend on operational delivery. The 13% swing between day’s high and low on Tuesday underscores the volatility risk.
| Adani Power (Sep 23, 2025 ) | |
|---|---|
| Current Price (approx.) | ₹165–₹170 |
| Previous Close (split-adjusted) | ~₹170.25 |
| Day’s Range (so far) | ~₹160 – ₹183 |
| 52-Week Range (post adjustment) | Rebasing underway post 1:5 split |
| Market Cap (approx.) | ~₹2.6 lakh crore |
| Valuation (approx.) | PE ~22x • PB ~3.5x |
| Q1 FY26 Net Profit | ₹3,480 crore ↑ 33% YoY |
| Installed Capacity | ~15,250 MW; expansion toward ~18,000 MW by FY27 |
| Shareholding (latest) | Promoters ~66% • Institutions ~22% • Public ~12% |
The Adani Power stock split has captured the imagination of retail investors, sending the stock swinging in a wide intraday band. The excitement reflects both optimism in India’s energy growth story and the appeal of a more affordable stock price.
Yet, beneath the buzz, the fundamentals remain unchanged. For long-term investors, the focus will shift back to profit growth, debt management, and capacity expansion. For short-term traders, Tuesday’s moves were a reminder that split-driven rallies can be as fleeting as they are fierce.
Source: NSE live data, company filings, market trackers. eBharat.com
