Shares of Adani Power Ltd. gained 1.71% to Rs 601.3 in Tuesday’s trade as of 10:05AM (IST). The stock hit a high price of Rs 606.15 and low of Rs 586.25 during the session. The return on equity (ROE) for the stock stood at 65.35%. Traded volume on the counter stood at 10:05AM shares and turnover at Rs 8.6 crore around that time. The stock of Adani Power Ltd. quoted a 52-week high price of Rs 647.0 and 52-week low prices of Rs 185.1, respectively. The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 2.84.
Promoters held 46.64% stake in the company as of 31-Mar-2024, while overseas investors held 15.91% and domestic institutional investors had 1.39%.
The company reported consolidated sales of Rs 13355.27 crore for the quarter ended 31-Dec-2023, down 10.58% from previous quarter’s Rs 14935.68 crore and down 61.1% from the year-ago quarter’s Rs 8290.21 crore. Net profit after tax for the latest quarter stood at Rs 2737.96 crore, up 31119.61% from the same quarter a year ago.
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect ‘buy’ or ‘sell’ opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.
