Adani Power shares climbed 14.6 per cent in the last one month and 56 per cent in the last six months. Adani Power recently reported a multi-fold jump in its September quarter profit on strong jump in sales.
Adani Power shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) and Monday s move has taken the stock into an overbought zone. The day s RSI and MFI stood at 78 for both indicators, as per data available on Trendlyne.
Six months after a Hindenburg report led to a meltdown in Adani Group stocks, the conglomerate is trying to strike a balance between growth, capex and deleveraging its debt