Adani Transmission Share Price Slumps Almost 6 Per Cent

Adani Transmission share price slumped almost 6 per cent on the NSE today. Ironically, it was only a week ago that the stock had moved higher to its record high of Rs.52.80, up 13 per cent on the BSE in intra-day trade on back of heavy volumes. The trading volumes on the counter had more than doubled. Meanwhile, Adani Transmission share price closed trading 5.52 per cent lower on the National Stock Exchange (NSE).

Adani Transmission is India’s largest power transmission company operating in the private sector and owns, operates and maintains around 5,450 Ckt Km of transmission lines ranging from ‘400 KV to 765 KV’, with a total transformation capacity of more than ‘12,000 MVA’.

Q2 results:

Adani Transmission disclosed a 38.63 per cent drop in consolidated net profit at Rs.99.54 cr in the quarter ended September 30. The company's net PAT or profit after taxes, minority interest and share of profit of associates amounted to Rs 162.20 cr in the September quarter of 2015-16.

Company's total income from operations (net) increased to Rs 682.70 cr in the quarter under review from Rs 564.24 cr in the corresponding period a year ago. The consolidated net profit after taxes, minority interest and share of profit of associates during the first half of this financial year stood at Rs 222.25 cr as against Rs 193.08 cr in the year-ago period.

Speaking on the financial performance Gautam Adani, chairman Adani Group, said that they had continued to achieve 94 per cent of operational EBIDTA margin for the H1 FY17.

Adani Transmission is a multibagger stock for this quarter as recognized by Dynamic Levels, based on its technical and fundamental research. It has a great potential to grow in the long-term. In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Adani Transmission share price history.