Adani Power shares gain 1.33% as Sensex rises

Shares of Adani Power Ltd. traded 1.33 per cent higher in Monday's session at 10:20AM (IST). The stock opened at Rs 193.0 and has touched an intraday high and low of Rs 197.5 and Rs 193.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 432.8 and a 52-week low of 132.55. About 231,967 shares changed hands on the counter so far.

Benchmark Nifty50 was up 27.7 points at 17626.85, while the BSE Sensex traded 55.11 points higher at 59888.08 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-2022, the company reported consolidated sales of Rs 8290.21 crore, down 1.84 per cent from the previous quarter's Rs 8445.99 crore and down 48.21 per cent from the year-ago quarter. The company reported net profit of Rs 8.77 crore for the latest quarter.

Promoter Holdings
Promoters held 74.97 per cent stake in the company as of 31-Dec-2022, while FIIs held 12.88 per cent and MFs 0.0 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 293.32 on April 10, while the 50-DMA was at Rs 186.31. 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.