This Adani group stock is up sharply today despite Sensex tumbling 1500 points

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Benchmark indices were trading near the day’s low, with the Nifty around 15796 down 405.50 points or 2.50 per cent and the Sensex down 1,414.85 points or 2.61 per cent. Metal, IT, real estate, PSU Bank, auto, oil & gas, and all other major sectors are all trading in the red zone. Analysts are predicting that the market will take time to recover until there is a fear of a rate hike by the US Fed. In a gloomy market today, the BSE SENSEX is 2.47 per cent closer to its 52-week low and the Nifty is 2.23 per cent higher than its 52-week low, but Adani Transmission shares are skyrocketing today. The stock opened at 2006.05 and is now up 2.83 per cent from its last closing of 2051.90.

In the previous year, the stock has returned 38.59 per cent, and year-to-date (YTD), the stock has returned 21.89 per cent so far in 2022. The stock has gained 16.41 per cent in the previous six months but has declined 3.68 per cent in the last month. The stock has returned 3.68 per cent in the previous five trading sessions, and it is now trading higher than the 5-day and 200-day moving averages but lower than the 20-day, 50-day, and 100-day moving averages. Based on today’s upside gap, the stock outperformed the sector by more than 3%, and Adani Transmission shares reached an intraday high of 2124.10 (4.03 per cent). 

The stock has achieved a 52-week high of 3,000 on 12th April 2022 and a 52-week low of 863 on 6th July 2021, showing that at the present level of 2,095.40, the company is trading 30 per cent below its 52-week high and 142 per cent above its 52-week low. Adani Transmission’s shares have grown at a CAGR of 23.67 per cent over the previous five years, and the company presently has a book value per share of 98.81, which has been improving over the last two years.

The Relative Strength Index (RSI) of 40.4 indicates that Adani Transmission’s shares are neither overbought nor oversold. Among the Adani group of firms, Adani Enterprises is down 3.68 per cent today, Adani Green Energy is up 1.14 per cent, Adani Ports is down 3.52 per cent, Adani Power is down 3.18 per cent, Adani Total Gas is down 1.74 per cent, and Adani Wilmar is down 3.97 per cent.

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