Adani Power share price surges over 230% in 9 months

Adani Power share price surged 20 percent intraday on June 7 with high volumes as around 10,01,31,116 shares were being traded on NSE at 12:28 hours.

The stock price has jumped over 230 percent in the last 9 months and was trading at Rs 125.60, up Rs 19.80, or 18.71 percent. It has touched a 52-week high of Rs 126.50. It has touched an intraday high of Rs 126.50 and an intraday low of Rs 111.50.

According to BSE data, the stock traded at a price-to-earnings multiple of 38.3 and a price-to-book ratio of -5.01. The company reported quarterly net profit at Rs 13.13 crore in March 2021 up 101 percent from Rs 1,312.90 crore in March 2020. Net sales came in at Rs 6,373.60 crore in March 2021, up 3.26 percent from Rs 6,172.43 crore in March 2020.

Recent results of the company point towards growth in operating profit with an increase in operating margins (YoY). The scrip is also showing strong momentum with price above short, medium and long term moving averages.