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ADANI POWER Gains 3%; BSE POWER Index Up 1.0%
Tue, 23 Jul 9:37

ADANI POWER Gains 3%; BSE POWER Index Up 1.0%Image source: hudiemm/www.istockphoto.com

ADANI POWER share price has zoomed 3% and is presently trading at Rs 717.4.

Meanwhile, the BSE POWER index is at 7,914.3 (up 1.0%).

Among the top gainers in the BSE POWER index today are ADANI GREEN ENERGY (up 2.6%) and TORRENT POWER (up 1.3%).

BHEL (down 0.9%) and Power Grid Corp. (down 0.8%) are among the top losers today.

Over the last one year, ADANI POWER has moved up from Rs 245.7 to Rs 717.4, registering a gain of Rs 471.7 (up 192.0%).

On the other hand, the BSE POWER index has moved up from 4,038.6 to 7,914.3, registering a gain of 96.0% during the last 12 months.

The top gainers among the BSE POWER index stocks during this same period were BHEL (up 218.0%), ADANI POWER (up 192.0%) and TORRENT POWER (up 144.4%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 80,598.3 (up 0.1%).

The top gainers among the BSE Sensex today are Ultratech Cement (up 1.4%) and M&M (up 1.1%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,516.5 . Eicher Motor and Ultratech Cement are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,097.4 to 80,598.3, registering a gain of 13,500.8 points (up 20.1%).

ADANI POWER Financial Update...

ADANI POWER net profit fell 47.8% YoY to Rs 27,372 million for the quarter ended March 2024, compared to a profit of Rs 52,425 million a year ago. Net sales rose 30.5% to Rs 133,637 million during the period as against Rs 102,421 million in January-March 2023.

For the year ended March 2024, ADANI POWER reported 94.2% increase in net profit to Rs 208,288 million compared to net profit of Rs 107,266 million during FY23. Revenue of the company grew 29.9% to Rs 503,513 million during FY24.

The current Price to earnings ratio of ADANI POWER, based on rolling 12 month earnings, stands at 13.3.

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