Adani Power Shares Rise 180% in One Year; Should Investors Book Profit Or Hold?

Adani Power Stock: Adani Power on Thursday reported a multifold rise in profit after tax (PAT) at Rs 4,645 crore compared with Rs 13 crore in the corresponding quarter last year. Consolidated total revenue for the quarter soared 93 per cent YoY to Rs 13,308 crore compared with Rs 6,902 crore in the same quarter last year. The company said electricity demand continued to grow strongly in India, driven both by economic growth and a heatwave in the north-western parts of the country. It is said that the recent geopolitical events in Europe have resulted in a sharp increase in global fuel prices, including coal, petroleum, and natural gas.

“This has in turn affected the ability of several thermal power plants in India to generate power at viable costs, restricting their output. As a result of supply constraints in face of a growing power demand, average market clearing price of electricity on exchanges rose to Rs. 8.23/kWh in the day,” it said.

Recently, the shares of thermal power producer Adani Power have been on a roll. The stock has delivered multibagger returns to its shareholders. In the past one year, the share price jumped from Rs 97 to Rs 279.50, logging around 188 per cent return in this period.

The scrip has delivered over 500 per cent return in three year. Long-term investors have made big gains by investing in this stock as it has surged around 1,000 per cent in the last four years.

With Thanks Refrence to : https://www.news18.com/news/business/markets/adani-power-shares-rise-180-in-one-year-should-investors-book-profit-or-hold-5121727.html