Adani Enterprises share are down by -0.09%, Nifty up by 0.31%

At 12 Sep 11:13 today, Adani Ent shares are trading at price ₹2934.7, -0.09% down from the previous closing price. Sensex is trading at ₹81749.22, up by 0.28%. The stock has hit a high of ₹2956.45 and a low of ₹2927.5 during the day.

On the technical front, the stock is trading below the short term simple moving averages of 5, 10, 20 day as well as longer term moving averages of 50, 100 & 300 days.

The SMA values for the stock are given below :

The classic pivot level analysis shows that on a daily time frame, the stock has key resistances at ₹2974.97, ₹3013.93, & ₹3034.92, whereas it has key support levels at ₹2915.02, ₹2894.03, & ₹2855.07.

Till 11 AM today, the volume traded on NSE & BSE for Adani Enterprises was -54.04% lower than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volume suggests a sustainable upmove, and negative price movement with higher volume might be an indication of further decline in prices.

Overall, as per Mint technical analysis, The stock is currently experiencing a strong downtrend.

From a fundamental analysis perspective, the company has a ROE of 8.98% .The current P/E of the stock is at 84.37 .

The median 1-year forecasted upside in this share is at 44.15% with a target price of ₹4230.5.

The company has a 74.72% promoter holding, 4.22% MF holding, & 11.73% FII holding as per filings in the june quarter.

The MF holding has increased from 4.02% in march to 4.22% in the june quarter.

The FII holding has decreased from 14.41% in march to 11.73% in the june quarter.

Adani Enterprises share price down -0.09% today to trade at ₹2934.7 while its peers are mixed. Its peers such as are falling today, but its peers Coal India, Sindhu Trade Links, Anmol India, Chandra Prabhu International are on the rise. Overall, benchmark indices Nifty & Sensex are up 0.31% & 0.28% each respectively.