There was a spike in the share prices of Adani Transmission Limited and the shares reached a 52-week high of ₹3,000 apiece today, even as benchmark indices extended losses after a gap-down start on Tuesday’s early trades.
There was weakness across global markets as investors started the holiday-shortened week in a risk-off mood.
The stock is currently trading at 2784.95 per share. The stock changed 9,83,015 hands till 11:40 AM today with an aggregate value of 273 Crores. It traded at a price to earnings multiple of 261.13 and a price to book ratio of 16.41 per share, when it had reached its 52 weeks high.
The price to earnings ratio indicates that investors are willing to pay a higher price for per rupee earnings given by the stock. The price to book ratio indicates the inherent value of the business and that investors are willing to pay even for no growth in the business.
While the BSE Sensex advanced only 19.04% in a year, the company’s shares gained 212.97%. This means that if an investor would have invested ₹1,00,000 in the shares of the company a year ago, the value of their holdings would have been ₹3,12,970.
Adani Transmission is a private transmission and distribution company in India. It handles the commission, operations and maintenance of electric power transmission systems. It comprises a portfolio of about 18801 circuit kilometres of transmission lines and 36,766 MVA of power transmission capacity.
Its promoters hold a 74.92% share in the company. FIIs hold 20.8% and DIIs hold 2.92%.
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
