−23% from the high · +53% from the low
Short build-up into a 26-day expiry: futures OI +0.6% on a −3.8% day, the most call OI sits at 210, the most put OI at 200, max pain 200.
ADANIPOWER futures closed at ₹197.77, +0.8% to spot, with 97% of open interest in the 27 Oct contract, and the 195 straddle prices a move of about ±7.4% by expiry.
| Expiry | Close ₹ | Basis ₹ · % | Annualised % | OI lots · on the day | Share of OI % | Contracts traded |
|---|---|---|---|---|---|---|
| 27 Oct26 days | ₹197.77 | +1.56+0.8% | +11% | 60,000▲ +0.5% · +270 lots | 97 | 5,700 |
| 23 Nov53 days | ₹198.83 | +2.62+1.3% | +9.2% | 1,700▲ +2.3% · +38 lots | 2.8 | 260 |
| 29 Dec89 days | ₹200.56 | +4.35+2.2% | +9.1% | 66▲ +247.4% · +47 lots | 0.11 | 61 |
2.9% of futures OI sits beyond the 27 Oct contract · 43 of 59 listed contracts traded · 27,000 option contracts changed hands
The 195 straddle closed at ₹14.50 (call 8.67 + put 5.83), pricing a move of about ±7.4% by the 27 Oct expiry. In the last 253 windows of 19 sessions, ADANIPOWER moved more than that 90 times.
After the last 8 bulletins, ADANIPOWER closed higher five sessions later in 0 of 4.
| Bulletin | Day of the news | 1 session later | 5 sessions later | Futures OI on the day |
|---|---|---|---|---|
| 29 SeptAdani Power Q2 earnings announcement and stock performance | ▲ +3.9%Nifty −0.4% · +4.3 pp | ▼ −0.1%Nifty −1.3% · +1.3 pp | —not reached | ▲ +0.1%long build-up |
| 28 SeptAdani Power completes merger of 10 subsidiaries | ▲ +0.1%Nifty −0.3% · +0.4 pp | ▲ +4.0%Nifty −0.7% · +4.7 pp | —not reached | ▲ +5.4%long build-up |
| 25 SeptAdani Power earnings outlook remains strong despite capex | ▼ −3.3%Nifty −1.6% · −1.7 pp | ▼ −3.2%Nifty −1.8% · −1.4 pp | —not reached | ▲ +2.2%short build-up |
| 25 SeptAdani Power shares rise after NCLT merger approval | ▼ −3.3%Nifty −1.6% · −1.7 pp | ▼ −3.2%Nifty −1.8% · −1.4 pp | —not reached | ▲ +2.2%short build-up |
| 22 SeptAdani Power gains on credit upgrade and Assam project | ▼ −1.0%Nifty +0.5% · −1.5 pp | ▼ −3.6%Nifty −1.1% · −2.5 pp | ▼ −1.4%Nifty −3.0% · +1.6 pp | ▲ +2.6%short build-up |
| 22 SeptAdani Power gains on credit upgrade and Assam project | ▲ +0.2%Nifty −0.4% · +0.6 pp | ▼ −0.8%Nifty +0.1% · −1.0 pp | ▼ −5.0%Nifty −3.0% · −2.0 pp | ▲ +0.7%long build-up |
| 26 JulAdani Power to hold EGM for ₹15,000 crore QIP approval | ▲ +0.1%Nifty +1.0% · −0.8 pp | ▼ −2.5%Nifty +0.9% · −3.5 pp | 0.0%Nifty +4.2% · −4.2 pp | ▲ +1.3%long build-up |
| 26 JulAdani Power plans ₹15,000 crore QIP at EGM | ▲ +0.1%Nifty +1.0% · −0.8 pp | ▼ −2.5%Nifty +0.9% · −3.5 pp | 0.0%Nifty +4.2% · −4.2 pp | ▲ +1.3%long build-up |
Revenue ₹18,902 cr, +34% on a year earlier; profit ₹4,867 cr, +47% in the Jun 2026 quarter, consolidated.
| Quarter | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ | Market on the day |
|---|---|---|---|---|---|---|
| Jun 2026filed 22 Jul | ₹18,902 cr | ▲ +34% | ₹4,867 cr | ▲ +47% | 2.49 | ▼ −2.2%Nifty −0.5% · −1.6 pp |
| Mar 2026filed 29 Apr · audited | ₹14,223 cr | ▼ −0.10% | ₹4,271 cr | ▲ +64% | 2.08 | ▲ +1.2%Nifty −0.7% · +1.9 pp |
| Dec 2025filed 29 Jan | ₹12,451 cr | ▼ −8.9% | ₹2,488 cr | ▼ −15% | 1.29 | ▼ −0.6%Nifty +0.3% · −0.9 pp |
| Sept 2025filed 30 Oct | ₹13,457 cr | ▲ +0.88% | ₹2,906 cr | ▼ −12% | 1.53 | ▼ −2.9%Nifty −0.6% · −2.3 pp |
| Jun 2025filed 1 Aug | ₹14,109 cr | ▼ −5.7% | ₹3,305 cr | ▼ −16% | 8.62 | ▲ +3.0%Nifty +0.6% · +2.4 pp |
| Mar 2025filed 30 Apr · audited | ₹14,237 cr | ▲ +6.5% | ₹2,599 cr | ▼ −5.0% | 6.62 | ▼ −1.3%Nifty +0.1% · −1.3 pp |
| Dec 2024filed 29 Jan | ₹13,671 cr | ▲ +5.2% | ₹2,940 cr | ▲ +7.4% | 7.67 | ▼ −2.7%Nifty +0.4% · −3.0 pp |
| Sept 2024filed 28 Oct | ₹13,339 cr | ▲ +2.7% | ₹3,298 cr | ▼ −50% | 8.21 | ▼ −1.0%Nifty +0.5% · −1.5 pp |
| Year | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ |
|---|---|---|---|---|---|
| FY26to Mar 2026 | ₹54,241 cr | ▼ −3.5% | ₹12,971 cr | ▲ +1.7% | 13.52 |
| FY25to Mar 2025 | ₹56,203 cr | ▲ +12% | ₹12,750 cr | ▼ −39% | 32.22 |
| FY24to Mar 2024 | ₹50,351 cr | — | ₹20,829 cr | — | 51.62 |
ADANIPOWER trades at 27 times trailing earnings against 27 for its industry, 5.7 times book value, revenue +6.6% over twelve months, market cap ₹3,80,000 cr.
| Stock | Market cap ₹ | P/E | P/B | Close ₹ |
|---|---|---|---|---|
| ADANIPOWERAdani Power Limited | 3,80,000 cron 1 Oct | 27consolidated | 5.7 | ₹196.20 |
| TATAPOWERTata Power Company Limited | 1,10,000 cron 1 Oct | 29consolidated | 2.4 | ₹350.15 |
| TORNTPOWERTorrent Power Limited | 63,000 cron 1 Oct | — | 3.2 | ₹1,242.90 |
| CESCCESC Limited | 17,000 cron 1 Oct | — | 1.3 | ₹131.60 |
| RELINFRAReliance Infrastructure Limited | — | — | — | — |
Promoters hold 75.0%, foreign portfolio investors 11.8%, mutual funds 3.9% and insurance companies 0.1%, as filed for the quarter to 30 Jun.
| Category | 30 Jun | 31 Mar | 31 Dec | 30 Sept | 30 Jun |
|---|---|---|---|---|---|
| Promoters | 74.960.00 pp | 74.960.00 pp | 74.960.00 pp | 74.960.00 pp | 74.96 |
| Foreign portfolio investors | 11.76▲ +0.03 pp | 11.73▲ +0.09 pp | 11.64▲ +0.11 pp | 11.53▼ −0.93 pp | 12.46 |
| Mutual funds | 3.92▲ +0.30 pp | 3.62▲ +0.23 pp | 3.39▲ +0.70 pp | 2.69▲ +0.93 pp | 1.76 |
| Insurance companies | 0.11▲ +0.08 pp | 0.03▲ +0.01 pp | 0.02▲ +0.01 pp | 0.01▲ +0.01 pp | 0.00 |
| Banks and financial institutions | 0.040.00 pp | 0.04▲ +0.04 pp | 0.000.00 pp | 0.000.00 pp | 0.00 |
| Individual investors | 5.19▼ −0.24 pp | 5.43▼ −0.32 pp | 5.75▲ +0.10 pp | 5.65▲ +0.02 pp | 5.63 |
| Bodies corporate | 0.33▼ −0.12 pp | 0.45▲ +0.04 pp | 0.41▲ +0.05 pp | 0.36▲ +0.03 pp | 0.33 |
| Other foreign holders | 3.52▼ −0.06 pp | 3.58▼ −0.07 pp | 3.65▼ −0.99 pp | 4.64▼ −0.05 pp | 4.69 |
| Others | 0.170.00 pp | 0.17▼ −0.01 pp | 0.18▲ +0.01 pp | 0.170.00 pp | 0.17 |
Nothing upcoming on record; the board meets for results on 23 Oct 2026.
| Ex-date | Action | Amount or ratio | Record date | Source |
|---|---|---|---|---|
| recent | ||||
| 22 Sept 2025 | split | 10→2 | 22 Sept 2025 | BSE |
| 14 Jun 2024 | otherAnnual General Meeting | — | — | NSE |
ADANIPOWER is −5.5% over 20 sessions against Nifty's −6.2%, 23% below its 52-week high, realised volatility 34% annualised.
| Window | From ₹ | ADANIPOWER % | Nifty 50 % | Difference pp |
|---|---|---|---|---|
| 250 sessionssince 26 Sept | ₹146.25 | ▲ +34% | ▼ −9.1% | +43 |
| 120 sessionssince 9 Apr | ₹172.33 | ▲ +14% | ▼ −5.7% | +20 |
| 60 sessionssince 8 Jul | ₹216.47 | ▼ −9.4% | ▼ −6.1% | −3.2 |
| 20 sessionssince 2 Sept | ₹207.70 | ▼ −5.5% | ▼ −6.2% | +0.71 |
| 5 sessionssince 24 Sept | ₹199.48 | ▼ −1.6% | ▼ −2.8% | +1.1 |
| 1 sessionsince 30 Sept | ₹204.00 | ▼ −3.8% | ▼ −0.88% | −2.9 |
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