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Promoters held 59.43 per cent stake in the company as of 30-Sep-2023, while FII and DII ownership stood at 24.19 per cent and 3.47 per cent, respectively.

The robust upswing in the real estate sector is attributed to substantial growth in all Nifty Realty stocks, marking gains exceeding 50% in FY24. During this timeframe, we identified 7 stocks showcasing rallies ranging from 75% to 130%, as per ACE Equity data.

The stock traded at a P/E multiple of 63.22, while the price-to-book value ratio stood at 8.49.

A total of 9,965 shares changed hands on the counter till 02:04PM (IST).

Shares of Adani Total Gas were the top gainer in the pack and up about 20%, followed by a 10-17% upside in Adani Energy Solutions, Adani Green, Adani Power, NDTV, and Adani Enterprises. Shares of Adani Power not only erased all Hindenburg-era losses but also rallied up to 17% today to hit a fresh record high of Rs 464.30. So far in 2023, the stock has given about 50% return to investors.

“Adani Power is one stock which looks really good at these levels.It has formed almost fresh 52-week highs. The indicators have turned bullish and now Adani Power on the lower side has crucial support levels of Rs 406 and as long as those levels are held, there can be good upside potential targets of almost Rs 530-560 on an immediate basis.”

“You want to see a government which is looking more stable. It can be a coalition government, but it should be a more stable coalition versus a weak coalition environment where the lead party doesn’t have enough seats to hold together a coalition which is going to implement the long term strategies to revive private investment and give that continuity of policy to the corporate sector.”

At the interbank foreign exchange, the rupee opened at 83.37 against the dollar and then touched 83.38, registering a gain of 2 paise over its previous close.

On Comex, gold futures were trading at $2,016.10 per troy ounce on Tuesday, up by $3.70 or 0.18% while Silver futures were trading at $24.655, higher by 0.026 or 0.11%.

“DLF and Godrej have been two of our portfolio picks, since they were at almost half the levels from where they are now. We were also very bullish on property given that asset monetisation or asset creation of wealth because of the twin rally in gold and stocks will see hard assets do well.”