Adani Ent. shares gain 2.53% as Sensex rises

Shares of Adani Enterprises Ltd. traded 2.53 per cent higher in Friday's session at 11:42AM (IST). The stock opened at Rs 1684.0 and has touched an intraday high and low of Rs 1715.0 and Rs 1671.05, respectively, during the session so far.

The stock quoted a 52-week high of Rs 1718.45 and a 52-week low of 358.95. About 113,875 shares changed hands on the counter so far.

Benchmark Nifty50 was up 84.2 points at 17957.80, while the BSE Sensex traded 257.05 points higher at 60176.74 at the time of writing of this report.

In the Nifty pack, 37 stocks traded the day in the green, while 13 were in the red.


Key Financials
For the quarter ended 30-Sep-2021, the company reported consolidated sales of Rs 13597.1 crore, up 6.81 per cent from the previous quarter's Rs 12730.63 crore and up 46.01 per cent from the year-ago quarter. The company reported net profit of Rs 212.41 crore for the latest quarter.

Promoter Holdings
Promoters held 74.92 per cent stake in the company as of 30-Sep-2021, while FIIs held 18.05 per cent and MFs 1.64 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1277.03 on November 12, while the 50-DMA was at Rs 1531.29. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.