Adani Power may rise by Rs 58-60 in 8-12 months: Bothra

Kunal Bothra of LKP Securities told CNBC-TV18, "We should book some partial profits in Adani Power. If the midcaps like Adani Power have done muted performance over the last few weeks then here is a chance you may see profit booking. You can look for a correction in the stock probably a Rs 2-3 correction could be good entry point once again. However, if your time horizon is one year or more you could probably look at a target of at least Rs 58-60 over the next 8-12 months."

At 12:17 hrs Adani Power was quoting at Rs 49.80, down Re 0.95, or 1.87 percent. It has touched an intraday high of Rs 52 and an intraday low of Rs 49.75.