Adani Power Share Price Overview
As of September 30, at midday, Adani Power shares are being traded at ₹659.4, reflecting a modest increase of 0.78% from the previous closing price. Meanwhile, the Sensex index is witnessing a decrease, currently at ₹84,607.33, down by 1.13%. The intraday trading highlighted a high of ₹662.35 and a low of ₹650.05 for Adani Power, showcasing a volatile trading session.
Technical Analysis
Examining the stock’s technical indicators, Adani Power is trading above the 20 and 300-day Simple Moving Averages (SMA), while it remains below the 5, 10, 50, and 100-day SMAs. This suggests mixed signals where the 20 and 300-day SMAs could act as support levels, whereas the stock may encounter resistance at the 5, 10, 50, and 100-day SMAs.
Pivot Level Insights
According to classic pivot level analysis, key resistance levels for Adani Power are identified at ₹670.2, ₹686.15, and ₹697.9. Conversely, significant support levels are observed at ₹642.5, ₹630.75, and ₹614.8. These levels are essential for traders to monitor as they indicate potential reversal points in the stock’s movement.
Volume Analysis
Trading volume for Adani Power until noon today has plunged by an astonishing 85.12% compared to the previous trading session on both the NSE and BSE. Volume is a critical factor in technical analysis, often used to confirm trends. A positive price movement accompanied by substantial volume typically indicates a strong bullish trend, while declining prices with high volume may signal further bearish sentiment.
Overall Market Sentiment
Overall technical analysis suggests that the stock may be experiencing a downward trend, indicating bearish market sentiment towards Adani Power. Investors should be cautious while considering their trading strategies in light of this trend.
Fundamental Analysis
From a fundamental standpoint, Adani Power exhibits a Return on Equity (ROE) of an impressive 57.44%, which reflects its efficiency in generating profit from shareholders’ equity. The current Price-to-Earnings (P/E) ratio is recorded at 15.98, which is a valuable metric for potential investors assessing the stock’s valuation relative to its earnings.
Shareholding Composition
| Shareholder Type | Holding (%) |
|---|---|
| Promoter Holding | 72.71% |
| Mutual Fund Holding | 0.01% |
| Foreign Institutional Investor (FII) Holding | 14.73% |
It is noteworthy that Mutual Fund (MF) holdings have decreased from 0.02% in March to 0.01% in June, while FII holdings have also seen a drop from 15.91% to 14.73% during the same period. This decline in institutional holding may indicate a cautious stance among institutional investors towards Adani Power.
Comparison with Peers
In the broader market context, Adani Power’s share price is up by 0.78%. However, it faces mixed results among its peers. Companies like Adani Green Energy, Tata Power, and JSW Energy are recording declines today, while Power Grid Corporation of India is witnessing an upward trend. This divergence highlights how sectoral factors can impact individual stocks differently.
Conclusion
Investors should keep a close eye on Adani Power’s share price movements, focusing on the indicated support and resistance levels while considering the broader market developments and institutional sentiment. With its strong fundamental metrics balanced against the current bearish trend, strategic planning will be crucial for those looking to enter or exit positions in this stock.
