Shares of Adani Power Ltd. traded 1.24% lower in Friday’s session at 11:27AM (IST). The stock opened at Rs 329.55 and has touched an intraday high and low of Rs 334.55 and Rs 321.35, respectively, during the session so far. The stock quoted a 52-week high of Rs 420.0 and a 52-week low of 132.55. About 1,065,848 shares changed hands on the counter so far.
For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 18109.01 crore, up 67.75% from the previous quarter’s Rs 10795.32 crore and up 16.76% from the year-ago quarter. The company reported net profit of Rs 8759.42 crore for the latest quarter.
Promoters held 74.97% stake in the company as of 31-Mar-2023, while FIIs held 11.7% and MFs 0.01%.
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 251.59 on August 25, while the 50-DMA was at Rs 266.58. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.
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