Share price of Adani Power falls as Nifty weakens

economictimes.indiatimes.com:

Adani Power Ltd. slipped 0.74 per cent to Rs 374.65 in Wednesday's trade as of 12:53PM (IST). The stock hit a high price of Rs 378.85 and low of Rs 373.75 during the session.

The return on equity (ROE) for the stock stood at 65.35 per cent. Traded volume on the counter stood at 12:53PM shares and turnover at Rs 6.53 crore around that time. The stock of Adani Power Ltd.

quoted a 52-week high price of Rs 410.0 and 52-week low prices of Rs 132.55, respectively.
The stock's Beta value, which measures its volatility in relation to the broader market, stood at 2.84.
Promotor/FII Holding Promoters held 46.64 per cent stake in the company as of 31-Mar-2023, while overseas investors held 11.95 per cent and domestic institutional investors had 0.04 per cent.

Key Financials The company reported consolidated sales of Rs 18109.01 crore for the quarter ended 30-Jun-2023, up 67.75 per cent from previous quarter's Rs 10795.32 crore and up 16.76 per cent from the year-ago quarter's Rs 15509.0 crore. Net profit after tax for the latest quarter stood at Rs 8759.42 crore, up 83.26 per cent from the same quarter a year ago.
Technicals
The MACD signalled a bearish bias on the counter.

The MACD is known for signalling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect «buy» or «sell» opportunities.