Adani Transmission jumped 5.06% to Rs 272.80, extending gains for the fourth trading session.
Shares of Adani Transmission jumped 12.58% in four trading sessions from a recent closing low of Rs 242.30 hit on 30 September 2020.
The Adani Group company operates as a power transmission company. Its consolidated net profit jumped 66.5% to Rs 355.40 crore on a 14.4% decline in net sales to Rs 2,446.51 crore in Q1 June 2020 over Q1 June 2019.
The scrip has surged 84.94% from its 52-week low of Rs 147.50 hit on 13 March 2020.
On the technical front, the stock's RSI (relative strength index) stood at 60.141. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 255.83 and its 200-day moving average (DMA) placed at 251.16.
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