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Adani Power hits all-time high on nuclear energy push
20 Apr 2026

Shares of Adani Power surged over 3% to an all-time high of ₹205.35 today. The spike comes after its subsidiary, Adani Atomic Energy, incorporated Coastal-Maha Atomic Energy (CMAEL).

This move further strengthens the company's nuclear energy ambitions. CMAEL was established on April 13 with an authorized capital of ₹5 lakh, divided into 50,000 equity shares worth ₹10 each.

CMAEL will focus on generating, transmitting, and distributing power
Expansion plans

CMAEL will focus on generating, transmitting, and distributing power from nuclear or atomic energy.

This development comes as part of a larger policy push by the Indian government to promote private sector participation in nuclear energy.

The government has expressed its intention to open up the nuclear power value chain through potential amendments to existing laws while retaining control over strategic areas like fuel management and safety oversight.

Adani Power shares rally on nuclear energy push
Market response

The announcement of CMAEL's incorporation has been well-received by the market, with Adani Power's shares witnessing a significant jump.

The stock has rallied some 13% in a week and 35% in one month.

Analysts expect that rising temperatures will lead to increased power demand across India in the coming months, benefiting companies like Adani Power.

JM Financial's outlook for Adani Power
Demand forecast

Analysts at JM Financial have predicted a spike in coal-fired generation and high merchant power prices. They noted that El Nino years have been associated with spikes in power demand.

The brokerage expects a shortfall in hydro generation, an increase in coal-fired generation, and high merchant prices will benefit companies like Adani Power and Adani Green.