New Delhi, March 5 -- Adani Power share price jumped over 4% on Wednesday, extending its gains for the third consecutive session. Adani Power shares rallied as much as 4.66% to Rs.506.10 apiece on the BSE.

While the Adani group stock has taken a significant beating in the past six months, ICICI Securities believes Adani Power shares have more upside potential of 24%.

ICICI Securities has resumed its coverage in Adani Power shares with a 'Buy' rating. It has Adani Power share price target of Rs.600 apiece, implying an upside potential of 24% from Tuesday's closing price.

"Adani Power has emerged unscathed after prolonged disputes relating to its existing power purchase agreements (PPAs) for operating assets. It has resolved the issues w...