Adani Power wins 25-year Uttarakhand power contract
Adani Power received a Letter of Award for a 25-year agreement to supply 1,234 MW of thermal power to Uttarakhand Power Corporation. OI Charts data showed long build-up in futures, with ₹195 max pain and ₹200 options open-interest concentration.
after close2 sources ↓machine-written, see hownot a recommendation
- ADANIPOWER close
- ₹185.96
- On the day
- +0.03%
- Futures OI, long build-up
- +0.9%
- Put-call ratio
- 0.55
- Max pain
- ₹195.00
Adani Power received a Letter of Award from Uttarakhand Power Corporation Limited on 14 Oct 2026 for a 25-year Power Supply Agreement covering 1,234 MW supply of thermal power. The award followed the company’s successful bid in a long-term power supply tender conducted by the state utility. The power will be supplied from a plant with 1,320 MW of installed capacity, with 1,234 MW representing the net contracted amount at the plant gate. ⚡
The Letter of Award confirms that the company won the tender but is not the final power supply contract. The arrangement still requires approval from the Uttarakhand Electricity Regulatory Commission, including adoption of the applicable tariff. That approval is the immediate regulatory milestone before the long-duration supply arrangement can progress toward execution. The contract, once completed, would provide visibility for a substantial portion of the plant’s output over multiple years and supports the broader thermal power supply chain.
Adani Power shares reached an intraday high of ₹189.81 on the news, according to the source article. OI Charts data for 13 Oct 2026 showed a close of ₹185.96, up 0.03%, on volume of 14,925,055 shares. The stock had declined 8.1% over five sessions and 11.4% over 20 sessions, while its 52-week range stood at ₹128.10 to ₹254.20. These figures provide the market context ahead of the contract-related announcement.
In derivatives, futures open interest rose 0.9% to 234,552,050 shares and showed a long build-up, with futures trading at a 0.35% premium to the underlying, based on OI Charts data. The options put-call ratio was 0.55 for the 27 Oct 2026 expiry, with the largest call and put open interest both at ₹200. Max pain was ₹195. These levels identify the immediate positioning areas traders are watching, rather than confirming the contract’s financial impact.
The next triggers are regulatory approval from the Uttarakhand Electricity Regulatory Commission, tariff adoption and the finalization of the long-term agreement. Market participants will also monitor whether the ₹195 max-pain level and ₹200 open-interest concentration remain relevant into the 27 Oct expiry. 🏭
Source: Equitypandit, 14 Oct 2026
Not investment advice. For informational purposes only.