Shares of Adani Power rise as Nifty gains

Shares of Adani Power Ltd. gained 0.1 per cent to Rs 194.1 in Wednesday's trade as of 01:42PM (IST). It hit a high of Rs 197.0 and low of Rs 191.6 during the session.

The stock quoted a 52-week high price of Rs 432.8 and a low of Rs 132.55. The return on equity for the stock stood at 89.48 per cent. About 387,474 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 2.84.

The scrip has been an underperformer, down 15.81 per cent in the past one year in comparison with a 1.59 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 132.55 on April 12, while the 50-DMA was at Rs 183.34. 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 46.64 per cent stake in Adani Power Ltd. as of 31-Mar-2023. Mutual funds and foreign institutional investors held 0.0 per cent and 12.88 per cent stake.