Surge over 150% YTD! Adani Power share price hits UPPER CIRCUIT of 20%, new 52-week HIGH

The shares of Adani Power on Monday hit an upper circuit of 20 per cent, touching its new 52-week high at Rs 126.95 per share on the BSE intraday. The stock has continued its gaining streak since the last five sessions by surging 35 per cent on the BSE. On Friday, it closed at Rs 105 per share. 

The stock hit the upper circuit amid the heavy volumes of around 4,82,182 shares being traded at BSE during the pre-open market. In year-to-date, Adani Power has surged by over 150 per cent. 

The stock opened at day’s high at Rs 112.0 and kept surging till it hit an upper circuit. Its intraday low is at Rs 111.5 per share in the session so far. Adani Power Ltd. belongs to the Power Generation - Thermal industry and has a market capitalisation of Rs 48,963 crore, as per BSE data. 

The company had reported a net profit at Rs 13.13 crore, up over 100 per cent in the March-ended quarter of the financial year 2020-2021 versus Rs 1,312.90 crore in the same period year ago. Net sales stood at Rs 6,373.60 crore, up 3.26 per cent in March 2021 against Rs 6,172.43 crore in Q4 FY20. 

Adani Power is showing strong momentum with price above short, medium, and long-term moving averages. The results of the company also pointed out that the growth in operating profit with an increase in operating margins (YoY). 

Foreign institutional investors hold 11.49 per cent stake in the company and the promoters have around 46.64 per cent, as of March-ended quarter. 

The stock traded at a price-to-earnings multiple of 38.3 and a price-to-book ratio of -5.01, according to BSE data. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations.  

Besides Adani Power, Adani Ports too surge during today’s trade over five per cent, while all other group companies’ shares are in the red.