Adani Power Shares Hit New Lifetime High; Power Demand Rise The Driving Factor

Power index in trade on April 4, 2022 hit a new high of more than 14 year. The sector has been buzzing primarily on anticipation that greater demand will boost up the sector and individual companies' earnings.
Adani Power shares have been trending and in trade today has hit a fresh 52-week high price of Rs 220.8 per share.

This is also the company's new record high as its previous high has been Rs. 203.6, while the life time low has been Rs. 15.15 per share.
India witnessed its worst electricity shortage from March 1 to March 30 since October. A surge in power demand in March forced India to cut coal supplies to non-power sector and hold fuel auction plans for utilities due to slump in inventories. "The March deficit of 574 million kilowatt-hours amounted to 0.5 per cent of overall demand or half the deficit of 1 per cent in October," said ICICI Securities in a note.