Adani Green shares fall 3.83 per cent in Monday's trading session

Adani Green shares fall 3.83 per cent in Monday's trading session
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Synopsis

The Relative Strength Index of the stock stood at 72.95 on Monday.

Reuters
Investors should therefore use dips towards 15,200-15,400 to their advantage to accumulate quality largecaps and midcaps.
Shares of Adani Green Energy Ltd. fell 3.83 per cent to Rs 1861.1 in Monday's trade as of 12:33PM (IST) even as the benchmark Nifty ruled at 17258.20, down 358.95 points.

The scrip had closed at Rs 1935.3 in the previous session. The stock quoted a 52-week low of Rs 860.2 and a high of Rs 1990.0. The company quoted a market-cap of Rs 291149.08 crore on the BSE.

On BSE, 52,658 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 622.43 times its trailing 12-month EPS of Rs 2.99 per share and 200.6 times its book value. The return on equity (ROE) stood at Rs 24.39.

Key Financials
For the quarter ended 30-Sep-2021, Adani Green Energy Ltd. reported consolidated sales of Rs 1411.0 crore, up 96.48 per cent from the same quarter a year ago. The company reported 432.02 per cent YoY growth in net profit at Rs 100.0 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Monday. 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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