Following the announcement by Adani Renewable Energy Forty-Eight Limited, a subsidiary of Adani Green Energy Limited (AGEL), regarding the commissioning of a 57.2 MW wind power component of its wind-solar hybrid project in Khavda, Gujarat, Adani Green Energy shares jumped 5.7% to reach a high of Rs 1,065 on the BSE today.
With a market valuation of Rs 1.59 lakh crore, Adani Green Energy ended the previous session on the BSE 13.22% higher at Rs 1,007.55. A total of 14.20 lakh shares of the stock were exchanged, generating Rs 140.31 crore in revenue.
The stock has lost 41% over the last year and 43.19% over the last three months, despite today’s advances.
The stock fell to Rs 870.90 on November 27, 2024, after reaching a 52-week high of Rs 2,173.65 on June 3, 2024. The stock has been extremely volatile over the last year, with a high beta of 1.7.
The stock is in the oversold zone, according to Adani Green Energy’s relative strength index (RSI), which is currently at 26.2. It is still below the 50-, 100-, 150-, and 200-day moving averages, but it is trading above the 5- and 10-day moving averages.
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