{"id":286372,"date":"2026-10-05T11:04:08","date_gmt":"2026-10-05T05:34:08","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=286372"},"modified":"2026-10-05T11:04:08","modified_gmt":"2026-10-05T05:34:08","slug":"adani-energy-solutions-share-price-rally-pm-dhara","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/","title":{"rendered":"Adani Energy Solutions Share Price Is Up About 40% in Six Months: How PM-DHARA, Record EBITDA and Smart Meters Fuel the Rally, and Why It Is 26% Below Its High"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>AESL Rs 1,326.40 on 1 Oct, up about 40% in 6 months, 26% below 52-week high Rs 1,789. Q1 FY27 EBITDA Rs 3,178 cr (+58%), PAT Rs 1,237 cr (+130%).<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Adani Energy Solutions share price closed at Rs 1,326.40 on 1 October, about 40% above its level six months ago but still 26% below its 52-week high of Rs 1,789. The rally rests on record Q1 FY27 numbers, with EBITDA up 58% to Rs 3,178 crore and profit up 130% to Rs 1,237 crore, a Rs 71,779 crore transmission pipeline and a smart meter order book worth Rs 29,519 crore. The stock jumped nearly 5% on 1 October after the Cabinet approved the Rs 1.86 lakh crore PM-DHARA scheme, which funds state transmission and battery storage. Valuation is rich at roughly 54 to 59 times earnings, so execution and funding costs matter more than the headline.<\/p>\n<\/p><\/div>\n<p>The Adani Energy Solutions share price today is up about 39% to 41% over six months by data-provider figures, which is close to the headline move from about Rs 990 to Rs 1,350. The path was not smooth: the stock hit Rs 1,789, fell about 27% to a low near Rs 1,309 and then bounced on the PM-DHARA approval.<\/p>\n<p>If you are searching for what is fuelling the Adani Energy Solutions stock rally, this article covers the PM-DHARA scheme, the record Q1 FY27 results, the transmission, smart meter and Energy Solutions Platform businesses, the order book, the IntelliSmart acquisition, valuation and market capitalisation, the 52-week high and moving average picture and the risks. Price data is based on NSE and BSE figures, so recheck it before acting.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=adani-energy-solutions-share-price-rally-pm-dhara\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#What_Is_Fuelling_the_Adani_Energy_Solutions_Share_Price_Rally\" title=\"What Is Fuelling the Adani Energy Solutions Share Price Rally?\">What Is Fuelling the Adani Energy Solutions Share Price Rally?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#PM-DHARA_and_the_Adani_Energy_Solutions_Share_Price\" title=\"PM-DHARA and the Adani Energy Solutions Share Price\">PM-DHARA and the Adani Energy Solutions Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#Q1_FY27_Results_Behind_the_Adani_Energy_Solutions_Share_Price\" title=\"Q1 FY27 Results Behind the Adani Energy Solutions Share Price\">Q1 FY27 Results Behind the Adani Energy Solutions Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#Smart_Meters_The_Rs_29519_Crore_Order_Book_Behind_the_Adani_Energy_Solutions_Stock\" title=\"Smart Meters: The Rs 29,519 Crore Order Book Behind the Adani Energy Solutions Stock\">Smart Meters: The Rs 29,519 Crore Order Book Behind the Adani Energy Solutions Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#Adani_Energy_Solutions_Share_Price_Today_Valuation_and_Key_Numbers\" title=\"Adani Energy Solutions Share Price Today: Valuation and Key Numbers\">Adani Energy Solutions Share Price Today: Valuation and Key Numbers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#Technical_Picture_of_the_Adani_Energy_Solutions_Share_Price_Today\" title=\"Technical Picture of the Adani Energy Solutions Share Price Today\">Technical Picture of the Adani Energy Solutions Share Price Today<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#Risks_Behind_the_Adani_Energy_Solutions_Share_Price\" title=\"Risks Behind the Adani Energy Solutions Share Price\">Risks Behind the Adani Energy Solutions Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#What_Could_Move_the_Adani_Energy_Solutions_Share_Price_Next\" title=\"What Could Move the Adani Energy Solutions Share Price Next?\">What Could Move the Adani Energy Solutions Share Price Next?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#Why_is_Adani_Energy_Solutions_share_price_rising\" title=\"Why is Adani Energy Solutions share price rising?\">Why is Adani Energy Solutions share price rising?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#How_much_has_Adani_Energy_Solutions_stock_gained_in_six_months\" title=\"How much has Adani Energy Solutions stock gained in six months?\">How much has Adani Energy Solutions stock gained in six months?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#What_were_Adani_Energy_Solutions_Q1_FY27_results\" title=\"What were Adani Energy Solutions&#8217; Q1 FY27 results?\">What were Adani Energy Solutions&#8217; Q1 FY27 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#What_is_the_PM-DHARA_scheme\" title=\"What is the PM-DHARA scheme?\">What is the PM-DHARA scheme?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#How_big_is_Adani_Energy_Solutions_smart_meter_order_book\" title=\"How big is Adani Energy Solutions&#8217; smart meter order book?\">How big is Adani Energy Solutions&#8217; smart meter order book?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#Is_Adani_Energy_Solutions_share_price_expensive\" title=\"Is Adani Energy Solutions share price expensive?\">Is Adani Energy Solutions share price expensive?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#What_are_the_key_levels_for_Adani_Energy_Solutions_share_price_today\" title=\"What are the key levels for Adani Energy Solutions share price today?\">What are the key levels for Adani Energy Solutions share price today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/adani-energy-solutions-share-price-rally-pm-dhara\/#Is_Adani_Energy_Solutions_a_good_stock_to_buy_now\" title=\"Is Adani Energy Solutions a good stock to buy now?\">Is Adani Energy Solutions a good stock to buy now?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_Fuelling_the_Adani_Energy_Solutions_Share_Price_Rally\"><\/span><strong>What Is Fuelling the Adani Energy Solutions Share Price Rally?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Three things are fuelling the Adani Energy Solutions share price: a pipeline of regulated transmission projects, a fast-growing smart metering business and a new policy push from PM-DHARA. Strong earnings give the story weight, because Q1 FY27 EBITDA crossed Rs 3,000 crore for the first time.<\/p>\n<p>On 1 October the Adani Energy Solutions share price rose nearly 5% to Rs 1,389.60 intraday, with volumes more than three times normal, after the Cabinet approved PM-DHARA on 30 September. It closed at Rs 1,326.40, up 0.9%, because early gains faded.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"PM-DHARA_and_the_Adani_Energy_Solutions_Share_Price\"><\/span><strong>PM-DHARA and the Adani Energy Solutions Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>PM-DHARA has an outlay of Rs 1,86,405 crore, including Rs 1,36,378 crore for intra-state transmission and Rs 50,000 crore for 50 GWh of battery storage, targeted for completion by FY 2032-33. State transmission utilities will implement it, and management said state utility projects are becoming more important as states build out intra-state networks.<\/p>\n<p>AESL describes a near-term transmission tendering opportunity of about Rs 1.1 lakh crore. As India&#8217;s largest private-sector transmission company, with a 27,949 circuit-kilometre network, it is positioned to bid for part of that pool, although winning projects will depend on competitive bidding, which is a swing factor for the Adani Energy Solutions share price.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Q1_FY27_Results_Behind_the_Adani_Energy_Solutions_Share_Price\"><\/span><strong>Q1 FY27 Results Behind the Adani Energy Solutions Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q1 FY27 metric<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q1 FY27<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q1 FY26<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total income<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 9,852 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 7,026 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 40%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 3,178 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,017 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 58%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Profit after tax<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,237 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 539 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 130%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Cash profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,776 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not shown<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 70%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Transmission operating EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,477 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,070 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 38%, margin 92%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Smart metering operating EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 311 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 98 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 141%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Energy Solutions Platform EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 590 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 17 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">New growth engine<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Capital expenditure<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 3,498 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,224 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 57%<\/td>\n<\/tr>\n<\/table>\n<p>The Energy Solutions Platform, which supplies power under long-term contracts, was fully operational in the quarter with 5,000 MW of supply capacity tied up. Rs 570 crore of its Rs 590 crore EBIT came from long-term contracted positions, which makes it steadier than pure trading and more supportive of the Adani Energy Solutions share price.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Check the Univest Screener for live data on power and transmission stocks<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Smart_Meters_The_Rs_29519_Crore_Order_Book_Behind_the_Adani_Energy_Solutions_Stock\"><\/span><strong>Smart Meters: The Rs 29,519 Crore Order Book Behind the Adani Energy Solutions Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>AESL has installed 13.44 million smart meters cumulatively and has a 24.6 million meter order book with revenue potential of Rs 29,519 crore. It announced the IntelliSmart acquisition, which adds 22.3 million meters and takes the combined portfolio past 47 million, in a national market of about 103 million meters.<\/p>\n<p>Smart metering operating revenue was Rs 161 crore in Q1, more than double the Rs 68 crore of the previous quarter, although installations slowed to 1.2 million in the quarter. Installation pace is the number to watch for the Adani Energy Solutions share price.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Adani_Energy_Solutions_Share_Price_Today_Valuation_and_Key_Numbers\"><\/span><strong>Adani Energy Solutions Share Price Today: Valuation and Key Numbers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">What it tells you<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price, 1 October close<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,326.40<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 0.9% on the day<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Day range, 1 October<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,309.10 to Rs 1,389.60<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Early gains faded<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">52-week range<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 803.10 to Rs 1,789<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price is about 26% below the high<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Six-month return<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 39% to 41%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Strong, but one-month return is about -4%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Market capitalisation<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 1.62 lakh crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Large-cap<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to earnings<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 54 to 59 times<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rich against the power sector<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Return on equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 10%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Modest for the multiple<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Shareholding<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Promoters 74.7%, FIIs 10.1%, DIIs 11.8%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Public holding only 3.4%<\/td>\n<\/tr>\n<\/table>\n<p>The valuation leaves little room for error. At more than 50 times earnings and a return on equity near 10%, the Adani Energy Solutions share price already assumes that transmission wins and smart meter installations arrive on schedule.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track live prices of power and Adani Group stocks.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Technical_Picture_of_the_Adani_Energy_Solutions_Share_Price_Today\"><\/span><strong>Technical Picture of the Adani Energy Solutions Share Price Today<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Adani Energy Solutions share price trades above its 200-day moving average, around Rs 1,274, but below its 20-day, 50-day and 100-day averages, and the 50-day average near Rs 1,546 is the key resistance. That mix points to a countertrend bounce inside a longer uptrend and not a confirmed breakout for the Adani Energy Solutions share price.<\/p>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Level<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Why it matters<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,789<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">52-week high<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,546<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">50-day moving average, key resistance<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,389.60<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1 October intraday high<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,326.40<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1 October close<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,309<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1 October low and recent support<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,274<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">200-day moving average<\/td>\n<\/tr>\n<\/table>\n<p>These are reference levels for the Adani Energy Solutions share price, not forecasts.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_Behind_the_Adani_Energy_Solutions_Share_Price\"><\/span><strong>Risks Behind the Adani Energy Solutions Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Heavy capital spending:<\/strong> Quarterly capex of Rs 3,498 crore needs funding, and higher interest rates would raise the cost of debt.<\/p>\n<p><strong>Rich valuation:<\/strong> A multiple above 50 times earnings can pull down the Adani Energy Solutions share price quickly if growth slows.<\/p>\n<p><strong>Smart meter execution:<\/strong> Installations of 1.2 million in Q1 were fewer than in the previous quarter, and delays would push out revenue.<\/p>\n<p><strong>Bidding competition:<\/strong> State transmission projects are awarded through competitive bidding, which can lower returns.<\/p>\n<p><strong>Group-specific risk:<\/strong> Adani Group stocks can react sharply to group news, which adds volatility beyond business fundamentals.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Could_Move_the_Adani_Energy_Solutions_Share_Price_Next\"><\/span><strong>What Could Move the Adani Energy Solutions Share Price Next?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>New transmission project wins from the Rs 1.1 lakh crore tendering pipeline.<\/li>\n<li>Smart meter installation pace and the IntelliSmart integration.<\/li>\n<li>Q2 FY27 results and the Energy Solutions Platform contribution.<\/li>\n<li>State-level rollout of PM-DHARA tenders.<\/li>\n<li>A close above the 50-day average near Rs 1,546.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Adani Energy Solutions share price has gained about 40% in six months on record Q1 FY27 earnings, a Rs 71,779 crore transmission pipeline, a Rs 29,519 crore smart meter order book and the PM-DHARA scheme. It remains 26% below its Rs 1,789 high, trades at more than 50 times earnings and is still below key moving averages. Rs 1,546 is the level to reclaim and Rs 1,274 the support to watch. Consult a SEBI-registered advisor before making any decision.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_Adani_Energy_Solutions_share_price_rising\"><\/span><strong>Why is Adani Energy Solutions share price rising?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Adani Energy Solutions share price is rising on record Q1 FY27 results, a large transmission and smart meter pipeline and the PM-DHARA scheme, which the Cabinet approved on 30 September.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_has_Adani_Energy_Solutions_stock_gained_in_six_months\"><\/span><strong>How much has Adani Energy Solutions stock gained in six months?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The stock is up about 39% to 41% over six months. It closed at Rs 1,326.40 on 1 October, which is still about 26% below its 52-week high of Rs 1,789.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_were_Adani_Energy_Solutions_Q1_FY27_results\"><\/span><strong>What were Adani Energy Solutions&#8217; Q1 FY27 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> EBITDA rose 58% to a record Rs 3,178 crore, profit after tax rose 130% to Rs 1,237 crore and total income rose 40% to Rs 9,852 crore, which supports the Adani Energy Solutions share price.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PM-DHARA_scheme\"><\/span><strong>What is the PM-DHARA scheme?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> PM-DHARA is a Rs 1,86,405 crore scheme approved on 30 September, with Rs 1,36,378 crore for intra-state transmission and Rs 50,000 crore for 50 GWh of battery storage.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_big_is_Adani_Energy_Solutions_smart_meter_order_book\"><\/span><strong>How big is Adani Energy Solutions&#8217; smart meter order book?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The order book is 24.6 million meters, worth Rs 29,519 crore. The IntelliSmart acquisition would take the combined portfolio above 47 million meters.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Adani_Energy_Solutions_share_price_expensive\"><\/span><strong>Is Adani Energy Solutions share price expensive?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The stock trades at about 54 to 59 times earnings with a return on equity near 10%. That is rich against the power sector, so it needs strong growth to justify the price.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_key_levels_for_Adani_Energy_Solutions_share_price_today\"><\/span><strong>What are the key levels for Adani Energy Solutions share price today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Resistance is near the 50-day average at Rs 1,546, and support is near Rs 1,309 and the 200-day average at Rs 1,274. These are reference levels and not predictions.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Adani_Energy_Solutions_a_good_stock_to_buy_now\"><\/span><strong>Is Adani Energy Solutions a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This article does not constitute investment advice. The business is growing fast, but valuation, capital spending and group-specific risks are high for the Adani Energy Solutions share price. Consult a SEBI-registered financial advisor before investing.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Why is Adani Energy Solutions share price rising?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Adani Energy Solutions share price is rising on record Q1 FY27 results, a large transmission and smart meter pipeline and the PM-DHARA scheme, which the Cabinet approved on 30 September.\"}},{\"@type\":\"Question\",\"name\":\"How much has Adani Energy Solutions stock gained in six months?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The stock is up about 39% to 41% over six months. It closed at Rs 1,326.40 on 1 October, which is still about 26% below its 52-week high of Rs 1,789.\"}},{\"@type\":\"Question\",\"name\":\"What were Adani Energy Solutions' Q1 FY27 results?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"EBITDA rose 58% to a record Rs 3,178 crore, profit after tax rose 130% to Rs 1,237 crore and total income rose 40% to Rs 9,852 crore, which supports the Adani Energy Solutions share price.\"}},{\"@type\":\"Question\",\"name\":\"What is the PM-DHARA scheme?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"PM-DHARA is a Rs 1,86,405 crore scheme approved on 30 September, with Rs 1,36,378 crore for intra-state transmission and Rs 50,000 crore for 50 GWh of battery storage.\"}},{\"@type\":\"Question\",\"name\":\"How big is Adani Energy Solutions' smart meter order book?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The order book is 24.6 million meters, worth Rs 29,519 crore. The IntelliSmart acquisition would take the combined portfolio above 47 million meters.\"}},{\"@type\":\"Question\",\"name\":\"Is Adani Energy Solutions share price expensive?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The stock trades at about 54 to 59 times earnings with a return on equity near 10%. That is rich against the power sector, so it needs strong growth to justify the price.\"}},{\"@type\":\"Question\",\"name\":\"What are the key levels for Adani Energy Solutions share price today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Resistance is near the 50-day average at Rs 1,546, and support is near Rs 1,309 and the 200-day average at Rs 1,274. These are reference levels and not predictions.\"}},{\"@type\":\"Question\",\"name\":\"Is Adani Energy Solutions a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This article does not constitute investment advice. The business is growing fast, but valuation, capital spending and group-specific risks are high for the Adani Energy Solutions share price. Consult a SEBI-registered financial advisor before investing.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Adani Energy Solutions share price is up about 40% in six months. See what is fuelling the rally, the Q1 FY27 numbers, valuation and risks.<\/p>\n","protected":false},"author":36,"featured_media":286369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[8054,8055,8057,7924,8056,7902],"class_list":["post-286372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-adani-energy-solutions","tag-adani-energy-solutions-share-price","tag-adani-group","tag-pm-dhara","tag-smart-meters","tag-transmission-stocks"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["286369"],"rank_math_title":["Adani Energy Solutions Share Price Today: PM-DHARA Rally"],"rank_math_description":["Adani Energy Solutions share price rose about 40% in six months to Rs 1,326. See PM-DHARA, record Q1 FY27 EBITDA, smart meters, valuation and the pullback from Rs 1,789."],"rank_math_focus_keyword":["Adani Energy Solutions share price"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/adani-energy-solutions-share-price-is-up-about-40-in-six-months-how-pm-dhara.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/286372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=286372"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/286372\/revisions"}],"predecessor-version":[{"id":286373,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/286372\/revisions\/286373"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/286369"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=286372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=286372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=286372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}