Shares of Adani Green fall as Nifty drops

Shares of Adani Green fall as Nifty drops
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 1163.16.

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Agarwal said the global economy is showing clear signs of recovery. The second wave of Covid-19 is ebbing in India with total active cases at less than 20 per cent of May highs.
Shares of Adani Green Energy Ltd. slipped 1.08 per cent to Rs 1384.45 in Thursday's trade as of 12:43PM (IST). It hit a high of Rs 1408.95 and low of Rs 1380.95 during the session.

The stock quoted a 52-week high price of Rs 1477.65 and a low of Rs 860.2. The return on equity for the stock stood at 24.39 per cent. About 4,355 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.9.

The scrip has been an underperformer, up 25.11 per cent in the past one year in comparison with a 30.39 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 860.2 on January 06, while the 50-DMA was at Rs 1332.13. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 54.92 per cent stake in Adani Green Energy Ltd. as of 30-Sep-2021. Mutual funds and foreign institutional investors held 0.13 per cent and 17.83 per cent stake.

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