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    Adani Power shares rise 0.1% as Nifty gains

    Synopsis

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

    A broker reacts while trading at his computer terminal at a stock brokerage firm in MumbaiReuters
    Nifty continues to climb a wall of worry as it looks to be in the final leg of its rally before heading for a correction.
    Shares of Adani Power Ltd. traded 0.1 per cent up at Rs 261.9 on Wednesday at around 02:09PM (IST), while the benchmark BSE Sensex advanced 183.44 points to 63511.14.

    As many as 205,070 shares changed hands on the counter with a total value of Rs 5.37 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 274.22, while 50-DMA was at Rs 238.72. 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 3.11 per cent in the past one year, while Sensex has risen 16.96 per cent during the same period.

    According to BSE data, the stock trades at a price-to-earnings multiple of 9.42 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.
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