Adani Energy Solutions Ltd is is rallying in trade during Thursday's session, jumping as much as 5.13% intraday. This comes after the Union Cabinet approved the Rs 1.86 lakh crore PM-DHARA scheme, aimed at strengthening India's intra-state power transmission infrastructure and supporting renewable energy integration. The programme also includes deployment of 50 GWh of battery storage capacity to help evacuate around 135 GW of renewable energy.
The stock rose to an intraday high of Rs 1,382, later paring some gains and was around Rs 1,368.20, up 4.08%. The share price has jumped 33.38% this year.
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The government's transmission push is relevant for companies operating across the power-grid ecosystem, particularly as India works towards integrating a larger renewable energy base. Adani Energy Solutions is one of the country's major private transmission and distribution platforms. The company operates across 16 states, with around 27,949 circuit kilometres of transmission lines and more than 1,23,000 MVA of transformation capacity, according to its FY26 annual report.
The company has also been building its transmission pipeline. In August, it won a Maharashtra transmission project for evacuating 4,500 MW of renewable and storage power, with an order value of around Rs 4,700 crore. The project is expected to add 562 circuit kilometres of transmission lines and 9,000 MVA of transformation capacity.
The broader power theme has also been supported by rising expectations for electricity demand and grid investment. Jefferies recently named Adani Energy Solutions, JSW Energy and NTPC among its preferred power stocks, citing stronger power demand and tightening coal inventories.
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