Sudarshan Sukhani of s2analytics.com advises selling Adani power on any small rally.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Adani Power has broken the last of the support level and it is amazing how some of these stocks have been tumbling down. Therefore, no matter what the Nifty does, Adani Power is moving lower, any small rally should be sold into."
At 11:53 hrs Adani Power was quoting at Rs 44.95, up Rs 0.75, or 1.70 percent.It has touched an intraday high of Rs 45.20 and an intraday low of Rs 42.45.
The share touched its 52-week high Rs 70.00 and 52-week low Rs 36.80 on 20 December, 2012 and 30 August, 2012, respectively.Currently, it is trading 35.79 percent below its 52-week high and 22.15 percent above its 52-week low.Market capitalisation stands at Rs 12,909.29 crore.Sales Turnover for FY12 (Mar) : Rs 3,948.90 croreNet Profit for FY12 (Mar) : Rs -293.92 crore