Adani Power Q2 growth advances capacity expansion
Adani Power reported stronger Q2 revenue, continuing EBITDA and sales volumes as power demand improved and capacity expansion progressed through internal accruals. OI Charts data showed the stock at ₹186.55, with long build-up and ₹200 as the largest call and put open-interest strike.
pre-market1 source ↓machine-written, see hownot a recommendation
- ADANIENSOL close
- ₹1,258
- On the day
- +3.11%
- Futures OI, long build-up
- +0.2%
- Put-call ratio
- 0.75
- Max pain
- ₹1,320
Adani Power reported stronger second-quarter operations as rising power demand lifted revenue, continuing EBITDA and sales volumes. Capacity expansion also progressed during the quarter, with the company funding growth through internal accruals. Reported profit after tax benefited from prior-period revenue and a tax credit, making the earnings outcome stronger but partly influenced by non-operational factors. ⚡
The update adds a separate power-generation growth signal to the earlier transmission and utility expansion story involving Adani Energy Solutions. For Adani Power, higher sales volumes and stronger demand can improve asset utilisation as new capacity is added. Internal funding also reduces the immediate reliance on external capital for the expansion programme, while the tax credit and prior-period revenue mean the reported PAT needs to be read alongside continuing EBITDA and operating volumes.
Key Points:
• OI Charts data for 26 Oct 2026 showed the stock at ₹186.55, up 2.5% on the day, with volume of 23,091,797. Despite the daily rise, it remained down 4.4% over five sessions and 9.9% over 20 sessions.
• Futures open interest increased 0.4% to 247,143,900, with the futures read showing a long build-up. The futures premium was 0.04%, indicating limited pricing above the underlying.
• The put-call ratio was 0.51 and max pain was ₹192.50 for the 27 Oct 2026 expiry. Both the largest call and put open interest were at ₹200, creating the main near-term open-interest concentration.
The combination of stronger demand, improving operating metrics and continuing capacity expansion supports the company’s growth narrative in the power sector 💡. However, the recent five-session and 20-session declines show that the broader price trend remained weak despite the latest daily recovery. The reported PAT also included prior-period revenue and a tax credit, so continuing EBITDA and sales volumes are the cleaner indicators of operating momentum.
With the expiry due on 27 Oct 2026, the ₹200 open-interest concentration and ₹192.50 max-pain level are the immediate market reference points. The next operating update should show whether demand strength is sustained and how quickly expanded capacity contributes to volumes and earnings.
Source: TradingView, 26 Oct 2026
Not investment advice. For informational purposes only.