Adani Power shares rise despite US-based FPI GQG Partners trimming stake in Gautam Adani-led company

What happened: Adani Power shares rose on Friday even after GQG Partners sold part of its stake. The company disclosed the sale in an exchange filing. Key numbers: GQG sold 5,039,326 shares, cutting its holding from 1,107,475,959 to 1,102,436,633, or about 5.74% to 5.72%. Adani Power closed at ₹188.60 on the NSE, up from ₹188. Why it matters: Analyst Mahesh M Ojha sees the stock as bullish, citing support at ₹180 and ₹168 and resistance at ₹200, with a target of ₹225.

Adani Power shares rose on Friday even after GQG Partners sold part of its stake. The company disclosed the sale in an exchange filing.

Analyst Mahesh M Ojha sees the stock as bullish, citing support at ₹180 and ₹168 and resistance at ₹200, with a target of ₹225.