Adani Power shares up 0.66% as Nifty drops

NEW DELHI: Shares of Adani Power Ltd. traded 0.66 per cent up in Wednesday's trade at 11:01AM (IST). Around 424,232 shares changed hands on the counter.

The counter opened at Rs 367.1 and touched an intraday high and low of Rs 370.25 and Rs 361.8, respectively, in the session so far. The stock of Adani Power Ltd. quoted a 52-week high of Rs 410.0 and a 52-week low of Rs 132.55.

Total market cap of the Adani Power Ltd. stood at Rs 141549.66 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 18109.01 crore for the quarter ended 30-Jun-2023, up 67.75 per cent from previous quarter's Rs 10795.32 crore and up 16.76 per cent from the year-ago quarter's Rs 15509.0 crore.

The net profit for latest quarter stood at Rs 8759.42 crore, up 83.26 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Mar-2023, domestic institutional investors held 0.01 per cent stake in the company, while foreign institutional investors held 11.7 per cent and the promoters 74.97 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 9.63 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 is the measure of the price that investors are ready to pay even for no growth in the business.

Adani Power Ltd. belongs to the Power Generation - Thermal industry.