Adani Transmission jumped 4.95% to Rs 1454.50, extending its winning run to fifth consecutive trading session.
Shares of Adani Transmission rallied 27.2% in five trading days from its previous closing low of Rs 1143.50 on 14 May 2021. The counter hit a record high of Rs 1,455.20 in intraday today. The stock has surged 769% from its 52-week low of Rs 167.2 hit on 1 June 2020.
The stock has added 42.7% in the past one month compared with a 5.5% rise in Nifty 50 index.
On the technical front, the stock’s RSI (relative strength index) stood at 82.205. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 999.20 and 776.59 respectively. These levels will act as crucial support zones in near term.
The company’s consolidated net profit surged 335.1% to Rs 256.55 crore on 14.4% increase in net sales to Rs 2,726.61 crore in Q4 FY21 over Q4 FY20. Consolidated operational EBITDA climbed 18% to Rs 1,034 crore in Q4 FY21 over Q4 FY20. Transmission operational EBITDA at Rs 656 crore, up 6% year-on-year (YoY). Distribution operational EBITDA was at Rs 377 crore, up 47% YoY.
Adani Transmission is the transmission and distribution business arm of the Adani Group, one of India’s largest business conglomerates.
