Adani Ent. shares gain 2.49% as Sensex rises

Shares of Adani Enterprises Ltd. traded 2.49 per cent higher in Wednesday's session at 10:46AM (IST). The stock opened at Rs 1672.55 and has touched an intraday high and low of Rs 1716.35 and Rs 1672.55, respectively, during the session so far.

The stock quoted a 52-week high of Rs 1908.55 and a 52-week low of 769.1. About 33,501 shares changed hands on the counter so far.

Benchmark Nifty50 was up 38.15 points at 17130.35, while the BSE Sensex traded 126.12 points higher at 57426.8 at the time of writing of this report.

In the Nifty pack, 31 stocks traded the day in the green, while 19 were in the red.


Key Financials
For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 18963.4 crore, up 39.47 per cent from the previous quarter's Rs 13597.1 crore and up 60.87 per cent from the year-ago quarter. The company reported net loss of Rs 11.63 crore for the latest quarter.

Promoter Holdings
Promoters held 74.92 per cent stake in the company as of 31-Dec-2021, while FIIs held 17.25 per cent and MFs 1.81 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1564.77 on February 23, while the 50-DMA was at Rs 1738.1. 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.