Power Grid Share Price Overview
As of October 11th at 16:00, Power Grid shares are trading at ₹330, experiencing a decline of 1.3% from the previous close. In broader market activity, the Sensex index is positioned at ₹81,381.36, reflecting a decrease of 0.28%. Throughout the day, Power Grid stock has fluctuated, reaching a high of ₹335.4 and a low of ₹329.4.
Technical Analysis
From a technical viewpoint, Power Grid is trading above its 300-day Simple Moving Average (SMA) but falls short of the shorter-term SMA indicators (5, 10, 20, 50, and 100 days). This suggests that while the long-term trend may be positive, the stock faces significant resistance at these shorter-term averages. Current support levels align with the 300-day SMA, indicating a potential safety net for investors.
Key Support and Resistance Levels
The classic pivot level analysis provides further insight, indicating key resistance at ₹333.83, ₹337.52, and ₹339.68. Conversely, critical support levels are identified at ₹327.98, ₹325.82, and ₹322.13. These levels will be pivotal in shaping the stock’s future movement as they reflect investor sentiment and market dynamics.
Trading Volume Insights
As of 4 PM, Power Grid’s trading volume on both the NSE and BSE has seen a drastic reduction, down 48.23% from the previous trading session. Monitoring trading volume is crucial, as increased activity paired with positive price movement often signals a sustainable trend, while negative price movement can suggest potential declines.
Market Sentiment and Trend Analysis
Overall, Mint’s technical analysis suggests that Power Grid is currently in a bearish trend, reflecting ongoing downward pressure on the stock price. Investors should remain cautious, taking into account market conditions and performance indicators to make informed decisions.
Fundamental Analysis
On the fundamental side, Power Grid boasts a Return on Equity (ROE) of 18.30%. The stock’s current Price-to-Earnings (P/E) ratio stands at 19.81, which could be indicative of the company’s growth potential relative to its earnings. The 1-year forecast suggests a modest upside of 1.21%, with a target price of ₹326.00.
Investor Holdings Overview
Investor engagement in Power Grid shows a diverse landscape: the company has a promoter holding of 0.00%, mutual fund (MF) holding at 3.71% (up from 3.57% in March), and foreign institutional investor (FII) holding decreased slightly to 28.73% from 29.82% in the previous quarter. Understanding these metrics provides insights into the stock’s market perception.
Peer Performance Comparison
As Power Grid shares decline by 1.3%, the performance of its peers presents a mixed landscape. While stocks like NTPC, Adani Power, and Tata Power are also experiencing drops, others like Adani Green Energy are witnessing gains. This mixed performance trend reflects the overall market sentiment, with benchmark indices Nifty and Sensex both down by 0.14% and 0.28%, respectively.
