Adani Power shares up 1.9% as Sensex rises

The stock opened at Rs 788.95 and has touched an intraday high and low of Rs 810.55 and Rs 776.4 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 14.61, earnings per share (EPS) of Rs 54.0 and price to book value (PB) of 4.77, while the return on equity (ROE) stood at Rs 48.27.

Promoter/ FII Holding
The promoters held 71.75 per cent stake in the company as of June 10, while FII and MF ownerships stood at 15.91 per cent and 1.39 per cent, respectively.

Key Financials
With a market capitalisation of Rs 304293.2 crore, the company operates in the Power Generation - Thermal industry. For the quarter ended 31-Mar-2024, the company reported consolidated sales of Rs 13881.52 crore, up 3.94 per cent from the previous quarter?s Rs 13355.27 crore and up 28.59 per cent from the same quarter a year ago. The company reported net profit of Rs 2737.24 crore for the latest quarter, down 47.79 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 62.23. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.