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ADANI POWER Plunges 13%; BSE POWER Index Down 2.2%
Thu, 21 Nov 10:58

ADANI POWER Plunges 13%; BSE POWER Index Down 2.2%Image source: DNY59/www.istockphoto.com

ADANI POWER share price has plunged 13% and is presently trading at Rs 448.4.

Meanwhile, the BSE POWER index is at 7,149.6 (down 2.2%).

Among the top losers in the BSE POWER index today are ADANI ENERGY SOLUTIONS (down 20.0%) and ADANI GREEN ENERGY (down 18.8%).

Power Grid Corp. (up 1.5%) and ABB (up 0.3%) are among the top gainers today.

Over the last one year, ADANI POWER has moved up from Rs 389.9 to Rs 448.4, registering a gain of Rs 58.5 (up 15.0%).

On the other hand, the BSE POWER index has moved up from 4,654.7 to 7,149.6, registering a gain of 53.6% during the last 12 months.

The top gainers among the BSE POWER index stocks during this same period were TORRENT POWER (up 90.5%), Siemens (up 85.1%) and KEC INTERNATIONAL (up 63.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 77,056.3 (down 0.7%).

The top losers among the BSE Sensex today are MUNDRA PORT & SEZ (down 20.0%) and SBI (down 4.0%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,333.8 (down 0.8%). Adani Enterprises and MUNDRA PORT & SEZ are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,655.2 to 77,056.3, registering a gain of 11,401.2 points (up 17.4%).

ADANI POWER Financial Update...

ADANI POWER net profit fell 50.0% YoY to Rs 32,975 million for the quarter ended September 2024, compared to a profit of Rs 65,942 million a year ago. Net sales rose 2.7% to Rs 133,389 million during the period as against Rs 129,906 million in July-September 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 13.6.


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