New Delhi, Sept. 25 -- The uptrend in Adani Power shares may continue over the medium term despite a more than 30% over the last six months, as the stock remains supported by strong earnings growth, improving capital efficiency, and declining leverage, according to brokerage firm PL Capital.

Adani Power share price has defied stock market weakness this year, rising by over 35% year-to-date and over 30% in the last six months, as per BSE data. Equity benchmark Sensex, on the other hand, is down over 13% year-to-date and 2% in the last six months.

Adani Power stock dropped to a 52-week low of Rs.128.35 on 23 January. However, it soared to its 52-week high of Rs.254.15 after four months on 29 May.

On a monthly scale, the stock is up nearl...