Multibagger stocks to buy: Shares of Tata Power and Adani Power are one of the multibagger stocks that the Indian stock market has delivered in recent years. However, some analysts are still bullish on the fundamentals and technical of these businesses. Adani Power shares have delivered over 200 percent return to its shareholders in one year whereas Tata Power shares have risen to the tune of 125 percent in this time. So, buying either of these multibagger stocks can be a little tricky for a stock market investor.
Comparing Adani Power shares with Tata Power shares, Sugandha Sachdeva, Founder of SS WealthStreet said, “Adani Power has exhibited remarkable growth, with its stock price rising from around ₹100 in January 2022 to ₹595 currently. However, Adani Power share price still appears attractively valued, as it has been steadily reducing debt-a positive indicator of its financial health and management’s efficiency. The company’s plans to expand its thermal capacity to 21GW by FY29 from 15.21GW currently further reflect its growth ambitions and position it as a key player in the power and energy sector. Adani Power’s shares are currently trading above its key 50 and 200-day moving averages, and the stock also has a key support level at the ₹500 mark on a monthly timeframe, suggesting potential buying opportunities on dips.”
Adani Power share price target
“Adani Power share has the potential to rise towards ₹750 and then ₹820 levels from a long-term perspective. Overall, the power and energy sector’s long-term prospects look promising due to India’s rising power demand, which benefits Adani Power’s growth potential. However, as with any investment, investors should consider their risk tolerance and conduct further research before making investment decisions,” added Sugandha Sachdeva of SS Wealth Street.
