Adani Ent. shares gain 0.24% as Sensex rises

Shares of Adani Enterprises Ltd. traded 0.24 per cent higher in Thursday's session at 12:18PM (IST). The stock opened at Rs 2850.0 and has touched an intraday high and low of Rs 2850.0 and Rs 2816.35, respectively, during the session so far.

The stock quoted a 52-week high of Rs 2850.0 and a 52-week low of 1344.6. About 28,409 shares changed hands on the counter so far.

Benchmark Nifty50 was up 129.55 points at 17664.30, while the BSE Sensex traded 520.42 points higher at 59337.71 at the time of writing of this report.

In the Nifty pack, 30 stocks traded the day in the green, while 20 were in the red.


Key Financials
For the quarter ended 30-Jun-2022, the company reported consolidated sales of Rs 41066.43 crore, up 63.34 per cent from the previous quarter's Rs 25141.56 crore and up 222.58 per cent from the year-ago quarter. The company reported net profit of Rs 469.46 crore for the latest quarter.

Promoter Holdings
Promoters held 74.92 per cent stake in the company as of 31-Mar-2022, while FIIs held 16.62 per cent and MFs 2.0 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1969.29 on August 11, while the 50-DMA was at Rs 2359.43. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.