Adani Transmission Ltd up by 9.72%: Market Update By Espresso

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Espresso shot of the day – Adani Transmission Ltd up by 9.72 percent

April 05, 2021
Espresso shot of the day – Adani Transmission Ltd up by 9.72 percent

ADANI TRANSMISSION LTD 1096.25 (+9.72%) BSE – INE931S01010| 5TH APRIL 2021

Adani Transmission Limited (ATL) was formally established, and they evacuate power from Adani’s Mundra thermal power plant. ATL is the largest private transmission company and operates more than 12,350 ckt kms of transmission lines and around 18,000 MVA of power transformation capacity. ATL has further set an ambitious target to set up 20,000 circuit km of transmission lines by 2022 by leveraging both organic and inorganic growth opportunities. ATL firmly believes that environmentally and socially sustainable businesses are cornerstones of prosperous society. ATL’s initiatives in areas of inclusive decision making, education, occupational health and safety, environment conservation (etc) are aligned with different indicators under 17 Sustainable Development Goals (SDGs). Power transmission sector in India is well poised for growth with an enabling policy framework in place, large capacity additions and greater opportunities for private participation through tariff-based competitive bidding. Adani Transmission Limited (ATL) was formally established. This was necessitated by need to evacuate power from Adani’s Mundra thermal power plant. Adani Electricity Mumbai Limited (AEML) caters to electricity needs of over 3 million customers.

Recent Drivers

  • On 27 March 2021, Adani Transmission Limited said it has entered into a pact with Essel Infraprojects to acquire Warora-Kurnool Transmission Ltd. (WKTL) for an enterprise value of Rs 3,370 crores. The regulatory approval for substitution of original awardee in the contract by Adani Transmission Limited has already been received from the Central Electricity Regulatory Commission.
  • Adani Transmission Limited (ATL) won an intra-state power transmission project in Madhya Pradesh for Rs 1,300 crores in the tariff-based competitive bidding held by REC Power Transmission Company.
  • Adani Transmission Limited became the fifth Adani Group company to cross  Rs 1 trillion market cap.
(Sources: Bloomberg quint, LiveMint, Moneycontrol, Business Standards)

Technical Force*

  • S&P BSE ALL CAP month till date gain up by -0.06%
  • Traded on new 52 Week High Value 1099.05
  • Touched upper circuit 1099.05
  • Spurt in Volume by more than 3.35 times compares to previous vol. 3 months avg qty – 86,018
  • Quantity traded 3,25,795 Deliverable quantity 1,79,220 (55.01%)
  • Stock price has jumped more than 540% from one year low level – 167.20, 1 June 2020
  • Daily RSI (14) is in the overbought territoty today
  • 52 -week high – 1,099.05 | 52- week low- 167.20

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

853.47

654.23

545.97

346.73

238.47

39.23

-

-

Fibonacci Pivot

654.23

536.77

464.20

417.46

346.73

276.01

229.27

156.70

39.23


Today’s Close

1096.25

SMA

BSE

10 DAY

885.73

20 DAY

831.74

50 DAY

703.67

200 DAY

408.64

Some Key Ratios (Source: BSE)

Market Cap: 1,20,566.68 crores

PE: 6731.81

OPM%: -1.30

ROE%: 0.44

Promoters holding : 74.92

Prev. Close: 999.15

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.