| Date | Rating | Target Price | Recommendation Price | Broker house |
| 9 May 2011 | buy | 125 | 106 | citi Report |
adani power (citi) FY11 Largely In Line - Merchant Extremely Critical for FY12E
Operationally solid; Recurring PBT in line - Deferred taxes impact PAT; Higher-than-expected debt - An indication of solid execution; Receivable days - Inflated by 4Q concentration; Merchant sales - Extremely critical in FY12E; Upside risk to FY12E estimates; Can weather Coal India shortages in FY12E
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