Adani Power has recently hit a new 52-week high of Rs 47.85 per share, up 4 percent on the BSE. It is just after when the Adani Group company posted 22% year-on-year (Y-o-Y) growth. Today the BSE-Sensex opened slightly higher than its previous closing level of 34,442.05 at the level of 34,650.63. Currently, it is trading 14.66 points up. (2:56 PM IST)
During its trading session, many stocks hit the fresh 52-week high including Adani Power which crossed its 52-week high after consolidated net profit at Rs 3.87 billion in September quarter. However, it had posted a profit of Rs 3.17 billion in the same quarter last year. But, the company succeeded to make profits after the net loss of Rs 8.25 billion in the previous quarter.
In fact, in last one week, Adani Power has soared 45% from Rs 33. Since October, the stock price just doubled from Rs 23.85 as on September 28, 2018, against 5% decline in the benchmark index.