Adani Power shares rise 1.21 per cent in Wednesday's trading session

Shares of Adani Power Ltd. rose 1.21 per cent to Rs 346.35 in Wednesday’s trade as of 01:24PM (IST) even as the benchmark Nifty ruled at 19512.75, down 62.15 points.

The scrip had closed at Rs 342.2 in the previous session. The stock quoted a 52-week low of Rs 132.55 and a high of Rs 420.0. The company quoted a market-cap of Rs 133295.81 crore on the BSE.

On BSE, 668,546 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 9.06 times its trailing 12-month EPS of Rs 38.13 per share and 4.5 times its book value. The return on equity (ROE) stood at Rs 65.35.

Key Financials
For the quarter ended 30-Jun-2023, Adani Power Ltd. reported consolidated sales of Rs 18109.01 crore, up 16.76 per cent from the same quarter a year ago. The company reported 83.26 per cent YoY growth in net profit at Rs 8759.42 crore for the latest quarter.

Technical indicators

The relative strength index (RSI) of the stock stood at Wednesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a “buy” or “sell” recommendation using a single valuation ratio.

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