On 29-10-2024, Power Grid Share Price is down by -0.09%, trading at ₹317.75. This decline is occurring in a broader market context, with the Sensex also experiencing a slight downturn of -0.05%, now at ₹79968.71.
| Table of Contents |
|---|
| Stock Performance Details |
| Trading Volume and Comparison |
| Fundamental Analysis |
| Ownership Details |
| Market Comparison |
| Encourage Further Reading |
| FAQ |
Stock Performance Details
Power Grid opened the trading day at ₹318 and maintained a high of ₹318 while reaching a low of ₹314.3 throughout the day. Presently, the stock is trading above the 300 days Simple Moving Average (SMA), indicating a positive long-term trend. However, it remains below the 5, 10, 20, 50, and 100 days SMA, highlighting potential short-term pressures.
For traders, critical resistance levels to watch include ₹322.25, ₹326.2, and ₹331.95, while notable support levels stand at ₹312.55, ₹306.8, and ₹302.85.
Trading Volume and Comparison
The trading volume for Power Grid has seen a noteworthy increase of 3.87% on the NSE and BSE compared to the previous trading session. Despite the slight dip in share price, this uptick in volume indicates heightened interest among investors.
In comparison to its peers, Power Grid’s performance has been mixed. While Power Grid has dipped -0.09%, other companies within the sector exhibit both upward and downward price movements.
Fundamental Analysis
Diving deeper into Power Grid’s financial health, the company demonstrates a Return on Equity (ROE) of 18.30% and a Return on Assets (ROA) of 6.42%. The current price-to-earnings ratio (P/E) stands at 18.86, positioning the stock as moderately valued. Furthermore, analysts forecast a 3.23% upside potential over the next year, targeting a future price of ₹328.00.
Ownership Details
Examining shareholding structure, Power Grid shows no promoter holding at 0.00%, with 3.60% held by mutual funds and a significant 28.26% controlled by foreign institutional investors (FII) as per latest filings from the September quarter.
Market Comparison
The broader market is also seeing downward movements with Nifty down by -0.16% and Sensex lower by -0.05%. This general market trend adds another layer of complexity to Power Grid’s performance, impacting investor sentiment.
Encourage Further Reading
For more details on the current situation of Power Grid’s share price, interested parties can visit Livemint’s dedicated page on Power Grid share price today on 29-10-2024.
FAQ
Q1: What does a decrease in share price signify for investors?
A: A decrease could indicate market corrections or negative investor sentiment. However, it’s essential to consider overall market trends and company fundamentals.
Q2: What are support and resistance levels?
A: Support levels are price points where a stock tends to stop falling as buying interest increases, while resistance levels are where it often stops rising due to selling interest.
Q3: How does the trading volume affect stock performance?
A: Higher trading volumes typically suggest increased interest and potential volatility, which can impact stock price movements.
