Adani Power shares drop 1.88% as Sensex falls

economictimes.indiatimes.com:

Adani Power Ltd. traded 1.88 per cent lower in Monday's session at 01:44PM (IST). The stock opened at Rs 707.15 and has touched an intraday high and low of Rs 712.0 and Rs 693.05, respectively, during the session so far.
The stock quoted a 52-week high of Rs 896.75 and a 52-week low of 235.7. About 194,032 shares changed hands on the counter so far.

Benchmark Nifty50 was down 39.8 points at 24284.05, while the BSE Sensex traded 95.86 points lower at 79900.74 at the time of writing of this report.
In the Nifty pack, 17 stocks traded the day in the green, while 33 were in the red.

Key Financials For the quarter ended 31-Mar-2024, the company reported consolidated sales of Rs 13881.52 crore, up 3.94 per cent from the previous quarter's Rs 13355.27 crore and up 28.59 per cent from the year-ago quarter. The company reported net profit of Rs 2737.24 crore for the latest quarter.
Promoter Holdings Promoters held 71.75 per cent stake in the company as of 31-Mar-2024, while FIIs held 15.91 per cent and MFs 1.39 per cent.
Technicals On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 540.36 on July 08, while the 50-DMA was at Rs 690.64. 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.