Stock market news: Adani Power shares slip nearly 5%

NEW DELHI: Shares of Adani Power traded nearly 5 per cent down in Thursday's trade at 10:39AM (IST). Around 1,958,648 shares changed hands on the counter.

The counter opened at Rs 99.45 and touched an intraday high and low of Rs 100.05 and Rs 94.4, respectively, in the session so far. Shares of the company of Adani Power Ltd. quoted a 52-week high of Rs 109.0 and a 52-week low of Rs 34.35.

Total market cap of the Adani Power Ltd. stood at Rs 36409.5 crore at the time of writing this report.


Key Financials
The company reported consolidated sales of Rs 6902.01 crore for the quarter ended 31-Mar-2021, down 2.78 per cent from previous quarter's Rs 7099.2 crore and down 9.08 per cent from the year-ago quarter's Rs 6327.57 crore.


Shareholding pattern
As of 31-Mar-2021, DIIs held 0.0 per cent stake in the firm, while foreign institutional investors held 17.05 per cent and the promoters 74.97 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 28.67 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. 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.

Adani Power Ltd. belongs to the Power Generation - Thermal industry.