ADANI POWER drops on profit booking

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Money Maker ResearchAdani Power Ltd  lost 4.46% to Rs 38.60 at 3.25 pm on BSE on profit booking. It gained 9.78% in the previous three trading sessions to settle at Rs 40.40 yesterday, 7 March 2017.
The stock had hit a 52-week high of Rs 41.30, on 7 March 2017 and a 52-week low of Rs 23.35 on 9 Nov 2016. The stock did better than the market over the past one month till 7 March 2017, advancing 8.46% compared with the Sensex 1.97% rise. Adani Power reported consolidated net loss of Rs 323.61 crore in December third quarter, 2016, vis-a-vis the net profit of Rs 109.49 crore in quarter third December 2015.
Adani Power Ltd is the largest private thermal power major in India with an installed capacity of 10,480 megawatt.
Coming to the afternoon benchmark indices update,  At 3.28 pm, the BSE Sensex was trading at 28,862, down 136.72 points, while the broader Nifty50 was ruling at 8,913.80, down 33.10 points.


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