Adani Power shares fall 0.49% as Nifty drops

Shares of Adani Power Ltd. traded 0.49 per cent down at Rs 278.9 on Wednesday at around 12:38PM (IST), while the benchmark BSE Sensex declined 287.8 points to 65558.7.

As many as 497,541 shares changed hands on the counter with a total value of Rs 1390.0 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 253.33, while 50-DMA was at Rs 257.49. 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 15.12 per cent in the past one year, while Sensex has risen 12.36 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 7.34 and a price-to-book ratio of 4.5. 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.