Adani Power Achieves 52-Week High Amid Broader Market Decline

Adani Power has made headlines today as its stock price reached a new 52-week high of Rs. 686.95, marking a significant milestone for the large-cap power company. This surge comes after a robust performance over the past two days, during which the stock has gained 6.63%. Notably, Adani Power outperformed its sector by 4.99% today, reflecting strong market momentum.
The stock opened with a notable gain of 6.62%, indicating positive investor sentiment at the start of the trading session. Throughout the day, it achieved an intraday high of Rs. 686.95, representing an increase of 8.89% from previous levels. Furthermore, Adani Power is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price performance.

In the broader market context, the Sensex experienced a decline of 0.4% today, closing at 82,679.38, while Adani Power's performance stands out against this backdrop. Over the past year, Adani Power has delivered a return of 3.37%, contrasting with the Sensex's performance of -0.60%. The stock's 52-week low was recorded at Rs. 430.85, highlighting its significant recovery in recent months.