Adani Green shares up 2.89% as Sensex rises

Shares of Adani Green Energy Ltd. gained 2.89 per cent to Rs 1978.8 in Wednesday's session as of 10:00AM (IST) even as the equity benchmark Sensex traded 487.81 points higher at 58431.46.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 2128.9 and a 52-week low of Rs 860.2 on NSE. Around 19204 shares changed hands on the counter till 10:00AM (IST).

The stock opened at Rs 1927.0 and has touched an intraday high and low of Rs 2006.8 and Rs 1927.0 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 655.28, earnings per share (EPS) of Rs 3.02 and price to book value (PB) of 200.6, while the return on equity (ROE) stood at Rs 24.39.

Promoter/ FII Holding
The promoters held 61.27 per cent stake in the company as of March 30, while FII and MF ownerships stood at 16.59 per cent and 0.14 per cent, respectively.

Key Financials
With a market capitalisation of Rs 309948.53 crore, the company operates in the Power Generation - Solar industry. For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 1471.0 crore, up 4.25 per cent from the previous quarter?s Rs 1411.0 crore and up 74.51 per cent from the same quarter a year ago. The company reported net profit of Rs 49.0 crore for the latest quarter, up 11.96 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 59.39. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition 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.