Stock market today seems to be moving in a upper positive line. With Sensex at its 50 point up stands at 52,152. And Nifty 50 grows 14 points with its standing position on 15,710.
The top gainers till now seems to be Adani Ports, Tata Motors , NTPC, Ultra Cemco and Power Grid. And the top losers till now are Bajaj Finance, HDFC, Cipla and Dr Reddy.
But the trend for Adani power was on next level. With lots of people investing in Adani Power’s. It previously closed at 105.75. And opened with an gain of nearly more than 7 rupee. Adani power opened on Monday with an gain up on 112.55.
Many charts we’re indicating that the bull may just hit the peak breaking the lows. And on Monday the bullish the run of Adani power started. In just 2 hours. Gaining the 20% + profits in a stock.
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.
A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. The price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.
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.
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