Adani Transmission shares drop 0.22% as Sensex rises

Shares of Adani Transmission Ltd. traded 0.22 per cent lower in Friday's session at 11:57AM (IST). The stock opened at Rs 3475.0 and has touched an intraday high and low of Rs 3512.2 and Rs 3465.85, respectively, during the session so far.

The stock quoted a 52-week high of Rs 3550.0 and a 52-week low of 927.0. About 3,155 shares changed hands on the counter so far.

Benchmark Nifty50 was up 22.05 points at 17681.05, while the BSE Sensex traded 59.11 points higher at 59391.71 at the time of writing of this report.


In the Nifty pack, 27 stocks traded the day in the green, while 23 were in the red.


Key Financials
For the quarter ended 30-Jun-2022, the company reported consolidated sales of Rs 3249.74 crore, up 2.67 per cent from the previous quarter's Rs 3165.35 crore and up 10.7 per cent from the year-ago quarter. The company reported net profit of Rs 185.99 crore for the latest quarter.

Promoter Holdings
Promoters held 74.92 per cent stake in the company as of 31-Mar-2022, while FIIs held 20.57 per cent and MFs 0.15 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 2247.75 on August 12, while the 50-DMA was at Rs 2641.8. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.