Adani Power Ltd Share Price – NSE /  BSE

Power Generation & Distribution, Mid Cap

The key equity indices pared losses and hit a fresh intraday high in mid-morning trade. The Nifty traded above the 25,050 mark after hitting the day’s low of 24,973.65 in morning trade. Media shares advanced after declining in past three consecutive trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex added 153.32 points or 0.19% to 81,851.43. The Nifty 50 index gained 54.10 points or 0.22% to 25,064.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.44% and the S&P BSE Small-Cap index gained 0.55%.

The market breadth was strong. On the BSE, 2,302 shares rose and 1,445 shares fell. A total of 137 shares were unchanged.

IPO update :

The initial public offer (IPO) of Premier Energies received 1,89,46,389 bids for shares as against 4,46,40,825 shares on offer, according to stock exchange data at 11:15 IST on Tuesday (27 August 2024). The issue was subscribed 0.42 times.

The issue opened for bidding on 27 August 2024 and it will close on 29 August 2024. The price band of the IPO was fixed between Rs 427 to 450 per share. An investor can bid for a minimum of 33 equity shares and in multiples thereof.

Buzzing Index :

The Nifty Media index added 0.83% to 2,081.50. The index fell 1.70% in the past three consecutives trading sessions.

Nazara Technologies (up 3.17%), Tips Industries (up 3.02%), TV18 Broadcast (up 1.85%), Network 18 Media & Investments (up 1.63%), Zee Entertainment Enterprises (up 0.59%), PVR Inox (up 0.43%), Hathway Cable & Datacom (up 0.33%) and Sun TV Network (up 0.28%) advanced.

Stocks in Spotlight :

Adani Power added 0.57%. The power generation company announced that it has incorporated a wholly owned subsidiary, Adani Power Middle East in Abu Dhabi.

Ceigall India rallied 3.25% after the company’s consolidated net profit from continued operaions stood at Rs 77.85 crore in Q1 FY25, registering a growth of 76.53% as against Rs 44.10 crore posted in Q1 FY24. Revenue from operations stood at Rs 822.39 crore in the quarter ended 30 June 2024, up 26.49% as against Rs 650.17 crore posted in corresponding quarter last year.

Global Markets :

Most Asian stocks declined on Tuesday, driven by rising tensions in the Middle East and concerns over global supply chains. The exchange of fire between Israel and Lebanon's Hezbollah on Sunday heightened geopolitical risks, leading investors to seek safer assets.

Additionally, Canada's imposition of tariffs on Chinese electric vehicles, steel, and aluminum, mirroring similar moves by the United States and European Union, further dampened sentiment.

Investors are closely watching Nvidia's earnings report for insights into AI-related investments.

In the U.S., the Dow Jones Industrial Average reached a new high on Monday, recovering from a recent sell-off. However, the S&P 500 and Nasdaq Composite declined. A shift from technology stocks to other sectors was evident.

Market participants are now focused on the upcoming release of the U.S. personal consumption expenditure price index (PCE) on Friday and the August payrolls report next week.

Federal Reserve Chair Jerome Powell's speech on Friday signaled an imminent start to interest rate cuts, with markets fully pricing in a 25-basis-point reduction in September. Expectations for further easing in the coming months have also increased.

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Adani Power Middle East was incorporated on 26 August 2024 with an authorized capital of 27,000 shares, each valued at $1.

The company said that it incorporated the Abu Dhabi unit to invest in power, infrastructure, and related fields.

Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India.

The company has reported 55.33% fall in consolidated net profit to Rs 3,912.79 crore in Q1 FY25 as compared to Rs 8,759.42 crore recorded in Q1 FY24. However, revenue from operations jumped 35.89% YoY to Rs 14,955.63 crore in the quarter ended 30 June 2024.

Share of Adani Power rose 0.93% to Rs 667.55 on the BSE.

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The domestic equity benchmarks ended near the flatline with some positive bias on Friday. The Nifty settled above the 24,800 level. Barring the Nifty Auto index, all the other sectoral indices on the NSE ended in red.

As per provisional closing, the barometer index, the S&P BSE Sensex, rose 33.02 points or 0.04% to 81,086.21. The Nifty 50 index added 11.65 points or 0.05% to 24,823.15.

In the broader market, the S&P BSE Mid-Cap index fell 0.66% and the S&P BSE Small-Cap index added 0.15%.

The market breadth was positive. On the BSE, 2,063 shares rose and 1,873 shares fell. A total of 112 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 4.25% to 13.55.

IPO Update :

The initial public offer (IPO) of Orient Technologies received 1,06,10,57,592 bids for shares as against 74,49,846 shares on offer, according to stock exchange data at 13:20 IST on Friday (21 August 2024). The issue was subscribed 142.43 times.

The issue opened for bidding on Wednesday (21 August 2024) and it will close on Friday (23 August 2024). The price band of the IPO is fixed between Rs 195 to Rs 206 per share. An investor can bid for a minimum of 72 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Auto index added 1.07% to 25,836.40. The index shed 0.09% in the past trading session.

Bajaj Auto (up 4.92%), TVS Motor Company (up 2.17%), Tata Motors-DVR (up 2%), Samvardhana Motherson International (up 1.94%), Tata Motors (up 1.64%), Hero MotoCorp (up 0.97%), Mahindra & Mahindra (up 0.95%), Bosch (up 0.34%), Apollo Tyres (up 0.33%) and Maruti Suzuki India (up 0.21%) edged higher.

On the other hand, Exide Industries (down 2.6%), MRF (down 0.78%) and Eicher Motors (down 0.77%) edged lower.

Stocks in Spotlight:

Adani Power (APL) rose 0.19%. The company said that it has received an approval from the National Company Law Tribunal (NCLT) Hyderabad Bench to acquire 100% stake in Lanco Amarkantak Power (LAPL).

Sun Pharmaceutical Industries advanced 1.39% fter the company announced that it has launched Tedizolid Phosphate tablets in India under the brand name Starizo.

RailTel Corporation of India jumped 5.81% after the company informed that it has received a work order worth Rs 52.66 crore from Uttar Pradesh Police Recruitment and Promotion Board for providing various services.

JSW Energy fell 1.08%. The company said that its wholly owned subsidiary JSW Neo Energy has received letter of award (LoA) for setting up 300 MW ISTS-connected Wind-Solar Hybrid Power Project from NTPC.

Jain Irrigation Systems zoomed 11% after the company signed memorandum of association of Coffee Board of India for the commercial release of high quality, disease-resistant coffee plants to growers.

Jindal Saw rose 0.29%. The company’s board has approved the sub division of every two equity share of face value of Rs 2 each into one equity shares having face value of Re 1 each.

Poly Medicure added 3.47% after the company said that it has raised Rs 1,000 crore by way of issue of qualified institutional placement (QIP).

Prism Johnson rallied 3.87% after the company announced that it has entered into a shareholders agreement for acquiring 50% of the issued and paid-up capital of Sunbath Sanitary.

Global Markets:

Europeans market advanced while most Asian stocks ended higher on Friday as investors anticipated comments from Jerome Powell later on Friday.

The yen strengthened early Friday after Japanese inflation data surpassed expectations. Government figures revealed that core CPI, which excludes volatile fresh food prices, rose 2.7% year-over-year in July, while headline CPI inflation increased by 2.8% during the same period.

U.S. stocks declined on Thursday, with the S&P 500 falling 0.89% and the tech-heavy Nasdaq 100 dropping 1.67%. The Dow Jones also decreased by 0.43%. Nvidia Corp. led losses in the tech sector with a sharp 3.7% drop, while Intel Corp. fell by 6.1%. Conversely, bank stocks rose, and energy shares gained alongside rising oil prices. Notably, Peloton Interactive Inc. soared 35% after reporting earnings that exceeded estimates.

Fed Chair Powell is scheduled to speak at the Jackson Hole Symposium on Friday, where he is expected to provide further insights into the central bank’s plans for potential interest rate cuts.

New jobless claims in the U.S. increased slightly last week but remained relatively low, suggesting a gradual slowdown in the labor market. This trend could pave the way for the Federal Reserve to begin lowering interest rates next month. Initial claims for state unemployment benefits rose by 4,000 to a seasonally adjusted 232,000 for the week ended August 17, according to the Department of Labor.

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The headline equity benchmarks traded near the flatline with small gains in afternoon trade. The Nifty hovered above the 24,800 level. Auto, financial services and bank shares advanced while realty, media and IT shares declined.

At 13:30 IST, the barometer index, the barometer index, the S&P BSE Sensex, rose 31.38 points or 0.04% to 81,084.57. The Nifty 50 index added 11.80 points or 0.05% to 24,823.30.

In the broader market, the S&P BSE Mid-Cap index fell 0.45% and the S&P BSE Small-Cap index rose 0.10%.

The market breadth was positive. On the BSE, 2,042 shares rose and 1,816 shares fell. A total of 126 shares were unchanged.

Gainers & Losers:

Bajaj Auto (up 4.25%), Coal India (up 2.09%), Tata Motors (up 1.77%), Hero MotoCorp (up 1.60%) and Bharat Petroleum Corporation (up 1.44%) were major Nifty gainers.

Divi's Laboratories (down 1.25%), LTIMindtree (down 1.13%), Wipro (down 1.09%), Titan Company (down 1.07%) and Tata Consultancy Services (down 0.91%) were major Nifty losers.

Stocks in Spotlight:

Adani Power (APL) rose 0.39%. The company said that it has received an approval from the National Company Law Tribunal (NCLT) Hyderabad Bench to acquire 100% stake in Lanco Amarkantak Power (LAPL).

RailTel Corporation of India jumped 5.13% after the company informed that it has received a work order worth Rs 52.66 crore from Uttar Pradesh Police Recruitment and Promotion Board for providing various services.

Jain Irrigation Systems zoomed 11.88% after the company signed memorandum of association of Coffee Board of India for the commercial release of high quality, disease-resistant coffee plants to growers.

JSW Energy shed 0.85%. The company said that its wholly owned subsidiary JSW Neo Energy has received letter of award (LoA) for setting up 300 MW ISTS-connected Wind-Solar Hybrid Power Project from NTPC.

Power Mech Projects surged 9.42% after the company said that its board has decided to issue one bonus share for every one equity share held (1:1).

Prism Johnson rallied 4.18% after the company announced that it has entered into a shareholders agreement for acquiring 50% of the issued and paid-up capital of Sunbath Sanitary.

Global Markets:

Europeans market advanced while Asian stocks traded mixed on Friday as investors anticipated comments from Jerome Powell later on Friday.

The yen strengthened early Friday after Japanese inflation data surpassed expectations. Government figures revealed that core CPI, which excludes volatile fresh food prices, rose 2.7% year-over-year in July, while headline CPI inflation increased by 2.8% during the same period.

U.S. stocks declined on Thursday, with the S&P 500 falling 0.89% and the tech-heavy Nasdaq 100 dropping 1.67%. The Dow Jones also decreased by 0.43%. Nvidia Corp. led losses in the tech sector with a sharp 3.7% drop, while Intel Corp. fell by 6.1%. Conversely, bank stocks rose, and energy shares gained alongside rising oil prices. Notably, Peloton Interactive Inc. soared 35% after reporting earnings that exceeded estimates.

Fed Chair Powell is scheduled to speak at the Jackson Hole Symposium on Friday, where he is expected to provide further insights into the central bank’s plans for potential interest rate cuts.

New jobless claims in the U.S. increased slightly last week but remained relatively low, suggesting a gradual slowdown in the labor market. This trend could pave the way for the Federal Reserve to begin lowering interest rates next month. Initial claims for state unemployment benefits rose by 4,000 to a seasonally adjusted 232,000 for the week ended August 17, according to the Department of Labor.

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