Adani Power Share Price: Shares of Adani Power fall as Nifty gains

Shares of Adani Power Ltd. slipped 0.59 per cent to Rs 558.0 in Friday’s trade as of 02:04PM (IST). It hit a high of Rs 566.6 and low of Rs 555.5 during the session.

The stock quoted a 52-week high price of Rs 589.3 and a low of Rs 132.55. The return on equity for the stock stood at 65.35 per cent. About 48,991 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 outperformer, up 277.28 per cent in the past one year in comparison with a 19.91 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 February 16, while the 50-DMA was at Rs 539.45. 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-Dec-2023. Mutual funds and foreign institutional investors held 1.17 per cent and 15.86 per cent stake.

(You can now subscribe to our ETMarkets WhatsApp channel)

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price