Adani Green Energy gained 2.91% to Rs 580.80, rising for third consecutive trading session.
The stock has gained 6.6% in three trading sessions from its previous closing low of Rs 544.65 on 4 September 2020. The stock hit a record high of Rs 585 in intraday trade today.The counter is up 1,175% from its 52-week low of Rs 45.55 hit on 11 September 2019. On the BSE, 90,000 shares were traded in the counter in today's trade compared with average daily volumes of 3.7 lakh shares in the past two weeks.
On the technical front, the stock's RSI (relative strength index) stood at 81.145. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 394.46 and 337.93 respectively. These levels will act as crucial support zones in near term.
The company reported a consolidated net profit of Rs 64 crore in Q4 March 2020 as against net loss of Rs 87.95 crore in Q4 March 2019. Net sales rose 2.1% YoY to Rs 692.67 crore in Q4 FY20 over Q4 FY19.
Adani Green Energy develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
