Adani Power has become India's most valuable power company by market capitalisation, overtaking NTPC Limited. Driven by a nearly 50% surge in its stock price this year, Adani Power's market capitalisation has risen to ₹4.24 lakh crore, surpassing NTPC's ₹3.9 lakh crore. Strong earnings growth, rising electricity demand, and growing institutional interest in the stock have fuelled the rally.