| Date | Rating | Target Price | Recommendation Price | Broker house |
| 9 May 2011 | reduce (from hold) | 103 | 110 | Emkay Report |
adani power (Emkay) Earnings downgrade continues; Downgrade to Reduce
Q4 performance impacted by deferred tax - to be a recurring thing; Guiding for slight delay in commissioning, we factor in changes; Maintain cautious view; Cut price target to Rs103/Share
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