![\"Big](\"https:\/\/static.toiimg.com\/thumb\/msid-131345349,imgsize-35100,width-400,height-225,resizemode-4\/gautam-adani-file-photo.jpg\" "\\"Gautam")
<\/div>\n<\/div>\n<\/div>\nAdani Power share price today: In a milestone for the company, Adani Power has overtaken IT sector giant Infosys in terms of market capitalisation after seeing a sharp rally of nearly 68% so far in 2026.Adani Power\u2019s market value currently stands at nearly Rs 4.85 lakh crore, higher than Infosys, whose market capitalisation is around Rs 4.72 lakh crore. Following the latest reshuffle, Adani Power has emerged as India\u2019s 11th most valuable listed company.The stock climbed nearly 3% on Wednesday to touch a fresh 52-week high of Rs 252 apiece on the NSE. Adani Power shares have risen over 13% in the last one week and delivered returns of 126% over the past year. Over a longer time frame, the stock has gained 384% in three years and an impressive 1,213% over five years.<\/p>\n The strong surge in Adani Power shares has largely been driven by expectations of higher electricity demand amid soaring temperatures and forecasts of an intense El Ni\u00f1o year, which is expected to push peak power consumption significantly higher.India is currently battling severe heatwave conditions during what is being described as an exceptionally strong El Ni\u00f1o year. The scale of the ongoing heatwave has also been reflected in global temperature data, which showed an overwhelming concentration of Indian cities among the hottest places in the world. As of May 22, live temperature rankings indicated that 97 out of the world\u2019s 100 hottest cities were located in India, while the remaining three were in Nepal.Against this backdrop, electricity demand has surged sharply, boosting sentiment across power-related stocks, including Adani Power, according to an ET report.While the intense El Ni\u00f1o conditions and extreme heatwave boosted sentiment around power-related stocks in 2026, IT shares continued to struggle amid multiple challenges.The sharp weakness in technology stocks accelerated earlier this year after AI startup Anthropic introduced plug-ins for its Claude Cowork agent capable of automating functions across legal services, sales, marketing and data analysis.\u201cWe call it the \u2018SaaSpocalypse,\u2019 an apocalypse for software-as-a-service stocks,\u201d Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies as saying.While concerns over the long-term future of IT companies amid rapid AI advancements continue to divide market experts, investors initially responded to lower valuations by selectively buying beaten-down technology stocks. However, fresh developments in artificial intelligence later weakened sentiment again.Heavyweight Infosys has seen its shares decline nearly 29% so far in 2026 despite significant depreciation in the rupee, which typically benefits export-focused IT firms.The stock has slipped around 3% over the past week and is down nearly 26% over the last one year. Over a longer horizon, Infosys shares have fallen about 12% in three years and 17% in five years.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)<\/span><\/div>\nWhat is driving the rally in Adani Power shares?<\/h2>\n<\/p>\n