Adani Power Ltd.'s stock demonstrated a rise of 1.22% to ₹406.0 on the Bombay Stock Exchange (BSE) on Friday, despite a gap down opening. The trading volume reached an impressive 430,581 lakh shares. The company's market cap stood at ₹155936.04 crore (INR100 crore = approx. USD12 million), with a price-to-earnings ratio of 7.57 and a price-to-book ratio of 4.5, indicating a return on equity of 65.35%.
The stock experienced high volatility, as shown by its beta value of 2.84, swinging between a yearly high and low of ₹410.0 and ₹132.55, respectively. The ownership structure revealed that promoters held a significant 46.64% share, while foreign institutional investors had a stake of 17.51%. In contrast, domestic institutional investors held only a small portion of the stock, with a mere 0.74%.
The upward trend in Adani Power's stock was further highlighted by its DMA values - the stock's 200-day moving average (DMA) stood at 264.01 while the 50-DMA was at 361.28.
However, the overall market sentiment in the BSE500 pack was bearish on Friday, with more losers than gainers - figures stood at 331 red versus 170 green.
InvestingPro Insights
Adani Power Ltd., a prominent player in the Independent Power & Renewable Electricity Producers industry, has shown a strong return over the last month, which is reflected in its recent stock rise. According to InvestingPro, the company is currently trading at a low earnings multiple, which could make it an attractive investment.
InvestingPro's real-time data shows that Adani Power has been profitable over the last twelve months, with a strong return over the last five years as well. Despite analysts predicting a potential sales decline and a drop in net income this year, the company's strong earnings could allow management to maintain dividend payments, a factor that often appeals to investors.
For those interested in further insights, InvestingPro offers an additional 10 tips related to Adani Power Ltd. These include metrics such as trading near its 52-week high and its moderate level of debt, which could provide valuable context for potential investors.
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