Adani Power gets 'Buy' rating; IIFL sees EBITDA quadrupling

IIFL initiated coverage on Adani Power with a 'Buy' rating and ₹240 target price, citing its large growth pipeline and strong execution. The brokerage expects EBITDA to quadruple by FY33-35 as the company adds 23.7 GW of thermal capacity. However, execution delays and failure to secure power purchase agreements remain key risks.