Adani Energy Solutions Shares Rise 2% As Morgan Stanley Maintains ‘Overweight’ Rating

Shares of Adani Energy Solutions rose more than 2% on Thursday after Morgan Stanley reiterated its bullish view on the company following its latest transmission project win.

Morgan Stanley maintained an ‘Overweight’ rating on Adani Energy Solutions with a target price of ₹1,943 per share, implying an upside of around 24% from the previous close.

The brokerage said the company’s latest project win has taken its order inflows so far in FY27 to more than half of its full-year base-case estimate.

At around 2 pm, Adani Energy Solutions shares were trading at ₹1,605.10, up 2.2% from the previous close. The stock has surged 53.5% so far in 2026, compared with a 7.5% decline in the Nifty 50 over the same period. The company has a market capitalisation of around ₹1.96 lakh crore.

Why Morgan Stanley Is Bullish On Adani Energy Solutions

Adani Energy Solutions on Wednesday announced that it had won a ₹4,700-crore transmission project in Maharashtra. Following the latest win, Morgan Stanley said the company’s transmission order book has increased to around ₹85,000 crore.

The project will add 562 circuit kilometres of transmission lines and 9,000 MVA of transformation capacity to the company’s portfolio. It is designed to evacuate up to 4,500 MW of renewable and pumped-storage power and is expected to be completed within 36 months.

The transmission system will help carry renewable energy generated in Karnataka to load centres in Maharashtra and support the pumped-storage ecosystem across Satara, Pune and the Mumbai Metropolitan Region.

The project includes setting up a new substation at Satara, constructing a transmission line connecting Kolhapur and Satara, and upgrading the Kolhapur pooling station.

Adani Energy Solutions shares had initially risen following the project announcement on Wednesday but gave up their gains later in the session and closed in the red.