Adani Power share price jumps over 3% on ₹5,000 crore fundraise move

After the announcement of the board meeting date on 28th October 2024 to consider and approve the ₹5000 crore fundraising proposal, Adani Power shares witnessed strong buying interest during morning deals on Thursday.

Adani Power's share price today opened flat but soon caught bulls' attention and touched an intraday high of ₹605.95 apiece on the NSE, logging over a 3% rise against the previous day's close.

According to stock market experts, Adani Power has declared a board meeting date of Monday next week to consider and approve the proposal for a ₹5000 crore fundraise via issuance of fresh shares.

They said that Adani Power's share price recently completed its downside retest on the technical chart at around ₹580 apieceand is now looking set to touch ₹660 and ₹720 per share in the short to medium term.