Adani Green shares up 2.29% as Sensex rises

Shares of Adani Green Energy Ltd. gained 2.29 per cent to Rs 2207.5 in Tuesday's session as of 10:10AM (IST) even as the equity benchmark Sensex traded 673.17 points higher at 59084.15.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 3048.0 and a 52-week low of Rs 1106.0 on NSE. Around 47168 shares changed hands on the counter till 10:10AM (IST).

The stock opened at Rs 2179.8 and has touched an intraday high and low of Rs 2215.0 and Rs 2166.45 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 722.39, earnings per share (EPS) of Rs 3.06 and price to book value (PB) of 251.5, while the return on equity (ROE) stood at Rs 41.09.

Promoter/ FII Holding
The promoters held 60.5 per cent stake in the company as of October 18, while FII and MF ownerships stood at 15.91 per cent and 0.13 per cent, respectively.

Key Financials
With a market capitalisation of Rs 349635.57 crore, the company operates in the Power Generation - Solar industry. For the quarter ended 30-Jun-2022, the company reported consolidated sales of Rs 1701.0 crore, up 7.18 per cent from the previous quarter?s Rs 1587.0 crore and up 57.65 per cent from the same quarter a year ago. The company reported net profit of Rs 214.0 crore for the latest quarter, down 2.28 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 50.99. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.