New Delhi, March 17 -- Shares of Adani Power rose over 2% on Tuesday, extending their recent gains, as the stock continued to rally on the back of a major order win and improving demand outlook.

The Adani Group stock climbed to Rs.157.50, marking its highest level in three months, after surging more than 5% in the previous session following the announcement of a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company. With this, the stock has gained 7.5% over the last two trading sessions.

The rally has also been supported by expectations of higher electricity demand, as temperatures are forecast to remain above normal levels this summer, boosting power consumption across the country.

Adani Power said it has secur...