Adani Power rose 5.92% to Rs 130.55, extending gains for the fourth consecutive session.
Shares of Adani Power rose 28.37% in four sessions from its last closing low of Rs 101.70 on 12 October 2021.The stock hit a 52-week high of Rs 167.05 on 9 June 2021. It has surged 278.41% from its 52-week low of Rs 34.50 hit on 22 October 2020. In the past one month, the stock has risen 31% as against 4.85% rise in the Sensex.
On the technical front, the stock's RSI (relative strength index) stood at 79.53. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 20-day simple moving average (SMA) placed at 118.08 and 50-day SMA at 108.93. These levels will act as near-term support.
Adani Power reported a consolidated net profit of Rs 278 crore in Q1 FY22 as against a net loss of Rs 682 crore in Q1 FY21. Total revenue for Q1 FY22 stood at Rs 7,213 crore, up by 34.7% from Rs 5,356 crore in Q1 FY21.
Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU