Adani Power share price down 2.1 per cent

Shares of Adani Power Ltd. traded 2.1 per cent up at Rs 637.65 at around 01:53PM (IST) on Friday. The stock had closed at Rs 651.35 in the previous session. Equity benchmark Sensex traded 29.36 points lower at 82933.35 around the same time. The scrip has climbed 60.01 per cent in the last one year till date, while the 30-share index has gained 25.95 per cent during the same period.

The stock’s 52-week high price stood at Rs 896.75 and the 52-week low price at Rs 289.3.

Trading volume on the counter stood at 298,110 shares, while it quoted a price-to-earnings ratio of 15.39, an EPS value of 41.44 and a price-to-book value of 5.78. In the Nifty50 pack, 21 stocks traded in the green, while 29 stocks were in the red. Promoter/FII Holding
Promoters held 72.71 per cent stake in the company as of 30-Jun-2024, while FII and MF ownership stood at 14.73 per cent and 1.41 per cent, respectively.

Key Financials
For the quarter ended 30-Jun-2024, the company reported consolidated sales of Rs 15473.95 crore, up 11.47 per cent from the previous quarter’s Rs 13881.52 crore and up 14.55 per cent from the year-ago quarter’s Rs 18109.01 crore. The company reported net profit of Rs 3912.79 crore for the latest quarter.

Technical Indicators
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 top of 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.