Shares of Adani Transmission rise as Nifty gains

Shares of Adani Transmission rise as Nifty gains
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 1769.85.

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Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
Shares of Adani Transmission Ltd. gained 0.05 per cent to Rs 2690.0 in Thursday's trade as of 10:45AM (IST). It hit a high of Rs 2747.7 and low of Rs 2686.05 during the session.

The stock quoted a 52-week high price of Rs 3000.0 and a low of Rs 860.5. The return on equity for the stock stood at 20.1 per cent. About 7,849 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 1.36.

The scrip has been an outperformer, up 163.95 per cent in the past one year in comparison with a 18.45 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 860.5 on April 21, while the 50-DMA was at Rs 2284.57. 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 66.33 per cent stake in Adani Transmission Ltd. as of 31-Mar-2022. Mutual funds and foreign institutional investors held 0.15 per cent and 20.57 per cent stake.

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