Adani Group Shares is up Despite Sensex’s 1500-Point Drop

The Nifty was down 405.50 points or 2.5% while the Sensex was down 1,414.85 points or 2.6%. All key industries are in the red: metal, IT, real estate, PSU Bank, auto, oil & gas. Analysts say the market won’t rebound until the US Fed raises interest rates.

In a bleak market, the BSE SENSEX is 2.47% closer to its 52-week low, while Adani Transmission shares are soaring. The stock opened at 2006.05, up 2.83% from 2051.90.

The stock returned 38.59% in 2021 and 21.89% year-to-date (YTD). The stock increased 16.41% in the last six months but dropped 3.68% last month.

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The stock has returned 3.68% in the last five trading sessions and is trading above the 5-day and 200-day moving averages but below the 20-, 50-, and 100-day averages. Adani Transmission shares achieved an intraday high of 2124.10 after today’s upward gap (4.03 per cent).

The stock hit a 52-week high of 3,000 on 12th April 2022 and a 52-week low of 863 on 6th July 2021. At 2,095.40, the firm is trading 30% below its 52-week high and 142% above its 52-week low.

Adani Transmission’s shares have grown at a CAGR of 23.67% during the past five years, while the company’s book value per share has improved over the last two years.

Adani Transmission shares are neither overbought nor oversold, according to their RSI of 40.4. Adani Enterprises is down 3.68%, Adani Green Energy is up 1.14, Adani Ports is down 3.52, Adani Power is down 3.18, Adani Total Gas is down 1.74, and Adani Wilmar is down 3.97.

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