Adani Power shares gain 2.0% as Sensex rises
On the technical charts, the RSI of the stock stood at 65.26.
Shares of traded 2.0 per cent up at Rs 622.5 at 10:40AM (IST) on Tuesday, even as benchmark gained 357.04 points to 75099.54.The stock had settled at Rs 610.25 in the previous session. The stock quoted a 52-week high price of Rs 647.0 and 52-week low of Rs 185.1, respectively. As per BSE data, total traded volume on the counter till 10:40AM (IST) stood at 83116 shares with a turnover of Rs 5.13 crore.
At the prevailing price, shares of the company traded at 10.2 times its trailing 12-month EPS of Rs 60.5 per share and 4.5 times its price-to-book value, exchange data showed.
A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.
Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 2.84.
Shareholding Details
Promoters held 46.64 per cent stake in the company as of 31-Dec-2023, while FIIs owned 15.86 per cent and DIIs 1.17 per cent.
Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 65.26. 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. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.
Source: Stocks-Markets-Economic Times
