Shares of all seven listed Adani Group entities rose in Monday’s trade, tracking a rebound in Indian equity benchmarks. Two of them — Adani Power and Adani Wilmar — hit their respective upper circuit levels today.
Adani Power climbed 5 per cent to a day high level of Rs 275.35 over its previous close of Rs 262.25, pausing a losing run of three straight sessions. A total of 5.40 lakh shares changed hands. The turnover on the counter stood at Rs 14.24 crore on BSE. The company commanded a market capitalisation of Rs 1,06,200.81 crore.
On BSE, there were 1,30,271 buy orders against nil sell orders. On NSE, 23.43 lakh shares changed hands with a turnover of Rs 60.83 crore.
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At today’s high level of Rs 275.35, Adani Power has lost 36.38 per cent compared to its 52-week high of Rs 432.80, hit in August this year. That said, the stock has ascended by 182.99 per cent from its one-year low level of Rs 97.30, hit in December last year.
“Adani Power looks extremely oversold on the daily charts. A close above Rs 276 can be used to buy for targets of Rs 309-340 in the near term,” said A R Ramachandran from Tips2trades.
Adani Power has slipped 10.08 per cent in the previous five sessions. On a year-to-date (YTD) basis, it has ascended by 171.82 per cent.
In case of Adani Wilmar, the stock has moved 5 per cent higher to hit an upper price band of Rs 524.65 today over its previous close of Rs 499.70, halting an eight-day losing run. A total of 4.64 lakh shares changed hands. The turnover on the counter stood at Rs 14.24 crore on BSE.
On BSE, there were 1,30,271 buy orders against nil sell orders. On NSE, 23.43 lakh shares changed hands with a turnover of Rs 24.01 crore. Adani Wilmar’s m-cap stood at Rs 68,187.64 crore.
At today’s high level of Rs 524.65, Adani Power has lost 40.27 per cent compared to its 52-week high of Rs 878.35, hit in April this year. That said, the stock has gained 137.40 per cent from its one-year low level of Rs 221, hit in February 2022.
Adani Wilmar has lost 16.72 per cent in the previous five sessions. On a year-to-date (YTD) basis, it has gained 97.83 per cent.
Also, shares of Adani Transmission, Adani Enterprises, Adani Ports, Adani Total Gas and Adani Green jumped as much as 4.61 per cent today.
Adani Enterprises are ending the year with 117.13 per cent gains (so far in 2022). Adani Wilmar (up 95.56 per cent), Adani Total Gas (up 87.98 per cent), Adani Green (up 37.46 per cent), Adani Transmission (up 37.25 per cent) and Adani Ports (up 10.03 per cent) are closing the year on a high note.
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Meanwhile, Indian equity benchmarks traded higher in afternoon deals after a sharp slide last week, led by strong buying in state-owned lenders and metals.