Adani Power shares approach 52-week high, rise 24% in seven sessions
Adani Power share price today: Adani Power stock ended 7.91% or Rs 29.20 higher at Rs 398.50 on Monday against the previous close of Rs 369.30 on BSE. Market cap of the firm rose to Rs 1.53 lakh crore.
- Sep 11, 2023,
- Updated Sep 11, 2023 4:17 PM IST
Shares of Adani Power Ltd ended higher for the seventh straight session, with the Adani Group firm nearing its 52-week high today. Adani Power shares have gained 24.12% or Rs 77.45 since August 31, 2023. It closed at Rs 398.50 in the current session against the closing price of Rs 321.05 on August 31. Adani Power stock ended 7.91% or Rs 29.20 higher at Rs 398.50 on Monday against the previous close of Rs 369.30 on BSE. Market cap of the firm rose to Rs 1.53 lakh crore. The firm saw 45.61 lakh shares changing hands amounting to a turnover of Rs 178.02 crore on BSE.
The share hit a 52-week high of Rs 409 on September 20, 2022 and a 52-week low of Rs 132.55 on February 28, 2023.
In terms of technicals, the relative strength index (RSI) of Adani Power stands at 74.9, signaling it's trading in the overbought zone. The stock has a beta of 1.3, indicating high volatility in a year. Adani Power shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Adani Power shares have gained 0.33% in a year and risen 33.66% in 2023. However, the stock has zoomed 965% in three years.
Adani Power reported a 83.25 percent rise in consolidated net profit for the quarter ended June 2023 at Rs 8,759.42 crore against Rs 4,779.86 crore reported in the June quarter of last fiscal, led by massive other income. However, revenue from operations slipped to Rs 11,005.54 crore, down 19.80 percent from Rs 13,723.06 crore during the corresponding quarter of last fiscal.
Other income zoomed to Rs 7,103.47 crore and included one-time recognition of prior period regulatory revenue amounting to Rs 6,497 crore, primarily on account of late payment surcharge.
Disclaimer: This article is for informational purpose only. Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Please consult your financial advisor or a qualified stock market expert before taking any position in the mentioned stock or stocks. Business Today will not be responsible for losses arising from trading or investing in these stocks.
Also read: Hot stocks on September 11, 2023: Adani Power, Coffee Day, IRFC, Mazagon Dock, IRCON and more
Shares of Adani Power Ltd ended higher for the seventh straight session, with the Adani Group firm nearing its 52-week high today. Adani Power shares have gained 24.12% or Rs 77.45 since August 31, 2023. It closed at Rs 398.50 in the current session against the closing price of Rs 321.05 on August 31. Adani Power stock ended 7.91% or Rs 29.20 higher at Rs 398.50 on Monday against the previous close of Rs 369.30 on BSE. Market cap of the firm rose to Rs 1.53 lakh crore. The firm saw 45.61 lakh shares changing hands amounting to a turnover of Rs 178.02 crore on BSE.
The share hit a 52-week high of Rs 409 on September 20, 2022 and a 52-week low of Rs 132.55 on February 28, 2023.
In terms of technicals, the relative strength index (RSI) of Adani Power stands at 74.9, signaling it's trading in the overbought zone. The stock has a beta of 1.3, indicating high volatility in a year. Adani Power shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Adani Power shares have gained 0.33% in a year and risen 33.66% in 2023. However, the stock has zoomed 965% in three years.
Adani Power reported a 83.25 percent rise in consolidated net profit for the quarter ended June 2023 at Rs 8,759.42 crore against Rs 4,779.86 crore reported in the June quarter of last fiscal, led by massive other income. However, revenue from operations slipped to Rs 11,005.54 crore, down 19.80 percent from Rs 13,723.06 crore during the corresponding quarter of last fiscal.
Other income zoomed to Rs 7,103.47 crore and included one-time recognition of prior period regulatory revenue amounting to Rs 6,497 crore, primarily on account of late payment surcharge.
Disclaimer: This article is for informational purpose only. Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Please consult your financial advisor or a qualified stock market expert before taking any position in the mentioned stock or stocks. Business Today will not be responsible for losses arising from trading or investing in these stocks.
Also read: Hot stocks on September 11, 2023: Adani Power, Coffee Day, IRFC, Mazagon Dock, IRCON and more