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Revenue from operations jumped 84% to Rs 12,991 crore in the reporting quarter against Rs 7,044 crore in the corresponding quarter of the previous year. Consolidated power sale volume in the second quarter stood at 18.1 billion units (BU), up by 65%, mainly due to improved power demand and higher operating capacity.

Calling India a "land of opportunities and innovation", he said that his optimism about India is driven by the stable government and young demographic, with an average age of 27 years.

Adani Power stock is just 4.8% shy of its 52-week high of Rs 409.70. The stock has rallied 194% since hitting its 52-week low of Rs 132.40 on February 28, 2023, in the aftermath of the Hindenburg report.

"At $200 a share, Tesla looks overvalued, based upon my story, but it is two bad market days from becoming a buy. I have a limit buy at $180, with the recognition that it may never get there and that I have no margin of safety," Damodaran tweeted.

The smallcap stock has given multibagger returns of 110% over the last 12 months versus Nifty50 which has given just over 4% returns during this period according to Trendlyne data.

“I am not too worried in terms of profitability or the volumes because we know that corporates have scaled up their incentives programmes. While the elections will affect some of the government related business and G20 is not coming back, corporates will continue to trade because they are also witnessing strong recoveries.”

The Federal Reserve held interest rates steady on Wednesday as policymakers struggled to determine whether financial conditions may be tight enough already to control inflation, or whether an economy that continues to outperform expectations may need still more restraint.

As of 30-Sep-2023, promoters held 37.01 per cent stake in the company, while FIIs held 26.17 per cent and domestic institutional investors had 8.44 per cent.