Thu Nov 21 07:14:19 UTC 2024: ## Adani Green Energy Shares Plunge 3.43% Amidst Broader Market Decline

**Mumbai, November 13, 2024** – Adani Green Energy shares experienced a significant drop today, closing at ₹1469.25, a 3.43% decrease from the previous day’s closing price. This decline comes amidst a broader market downturn, with the Sensex falling 1.25% to ₹77690.95. The Adani Green Energy stock fluctuated throughout the day, reaching a high of ₹1540 and a low of ₹1460.3.

Technical analysis indicates a strong downtrend, with the stock trading below key short-term and long-term moving averages. Pivot point analysis suggests support levels around ₹1450 and resistance levels above ₹1550. Despite a median one-year forecasted upside of 33.81% and a target price of ₹1966.00, the current trend remains bearish.

Fundamentals reveal a ROE of 12.84% and ROA of 1.25%, but a high P/E ratio of 238.24 and P/B ratio of 22.83. Promoter holding remains at 0.00%, while FII holding decreased from 16.91% in June to 15.16% in September.

While some energy sector peers like Power Grid Corporation of India, Adani Power, and Tata Power also experienced declines, NTPC bucked the trend and saw gains. The overall market sentiment remains negative, reflected in the Nifty and Sensex declines of 1.36% and 1.25%, respectively.

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