HomeMarketsAdani Ent. shares rise 0.77% as Nifty drops

Adani Ent. shares rise 0.77% as Nifty drops

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Shares of . traded 0.77 per cent up at Rs 3599.1 on Thursday at around 11:06AM (IST), while the benchmark BSE Sensex declined 353.72 points to 59993.25.

As many as 29,152 shares changed hands on the counter with a total value of Rs 10.52 crore.

The stock quoted a 52-week high price of Rs 3634.0 and a 52-week low of Rs 1344.6.

On the technical charts, the 200-DMA of the stock stood at Rs 2158.37, while 50-DMA was at Rs 2856.5. 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 137.18 per cent in the past one year, while Sensex has risen 3.13 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 421.82 and a price-to-book ratio of 10.26. 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.

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