Adani Power shares rise 0.96% as Nifty gains

Shares of Adani Power Ltd. traded 0.96 per cent up at Rs 241.0 on Tuesday at around 01:23PM (IST), while the benchmark BSE Sensex advanced 110.94 points to 61875.19.

As many as 586,165 shares changed hands on the counter with a total value of Rs 14.1 crore.

The stock quoted a 52-week high price of Rs 432.8 and a 52-week low of Rs 132.55.

On the technical charts, the 200-DMA of the stock stood at Rs 287.97, while 50-DMA was at Rs 193.93. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 14.43 per cent in the past one year, while Sensex has risen 8.44 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 8.67 and a price-to-book ratio of 2.47. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Power Generation - Thermal industry.