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Adani Ent. shares rise 0.65% as Nifty drops

Adani Ent. shares rise 0.65% as Nifty drops thumbnail

Shares of Adani Enterprises Ltd. traded 0.65 per cent up at Rs 1430.05 on Tuesday at around 10:30AM (IST), while the benchmark BSE Sensex advanced 18.06 points to 58508.99.

As many as 2,148 shares changed hands on the counter with a total value of Rs 0.31 crore.

The stock quoted a 52-week high price of Rs 1718.45 and a 52-week low of Rs 257.45.

On the technical charts, the 200-DMA of the stock stood at Rs 1087.51, while 50-DMA was at Rs 1461.86. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 415.43 per cent in the past one year, while Sensex has risen 50.59 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 133.13 and a price-to-book ratio of 6.61. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Diversified industry.

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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