Power Grid share price increased by 1.6%
Business Business: Today 22 November 12:01 pm, Power Grid shares are trading at ₹ 331, up 1.6% from its previous close. Sensex is trading at ₹ 77887.54, up 0.95%. The stock has touched a high of ₹ 331.8 and a low of ₹ 324.2 during the day.
On the technical front, the stock is trading above 5,10,20,50,300 day SMA and below 100 day SMA. The stock will find support at 5,10,20,50,300 day SMA and face resistance at 100 day SMA. The SMA values for the stock are given below:
Day Simple Moving Average
5 315.98
10 317.41
20 318.20
50 330.26
100 334.74
300 313.11
Classic pivot level analysis shows that on the daily time frame, the stock has key resistances at ₹330.93, ₹335.72, and ₹344.68, while it has key support levels at ₹317.18, ₹308.22, and ₹303.43.
Power Grid Share Price Today
As of 12 AM today, the volume traded on NSE and BSE for Power Grid was 94.92% higher than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volumes indicates a sustainable uptrend, and negative price movement with higher volumes may indicate further decline in prices.
Overall, as per Mint technical analysis, the stock may have broken important resistance levels, which may lead to further price rise in the future.
From a fundamental analysis point of view, the company’s ROE is 18.30% and ROA is 6.42% respectively. The current P/E of the stock is at 19.29 and P/B at 3.29. The average 1-year forecasted upside in this stock is 1.21% with a target price of ₹335.00.
The promoter stake in the company is 0.00%, MF stake is 12.26% and FII stake is 28.26%, as per documents filed in the September quarter.
MF stake has increased from 11.61% in June to 12.26% in the September quarter.
FII shareholding has declined from 28.73% in June to 28.26% in the September quarter.
Power Grid share price has gained 1.6% today and is trading at ₹ 331 in sync with its peers. Its peers are also in a rally. Overall, benchmark indices Nifty and Sensex have gained 0.93% and 0.95%, respectively.
