Tata Power Market Cap Crosses Rs 50,000 Cr Mark Stock Up To 4%At New High

Share Us

Tata Power Market Cap Crosses Rs 50,000 Cr Mark Stock Up To 4%At New High
24 Jan 2023
7 min read


News Synopsis

Latest Updated on 24 January 2023

Shares of Tata Power increased by more than 3% today on news that the private power generation company plans to issue bonds to generate up to Rs 2,000 crore for funding its operational costs.

The price of Tata Power increased by as much as 3.22% to Rs 201.30 on the BSE from its previous closing of Rs 197. 13.46 lakh shares were exchanged in total for a transaction of Rs 26.87 million. The company's Market Value increased to Rs 64,785 crore. On April 7, 2022, the stock reached a 52-week high of Rs 298; on June 20, 2022, it reached a 52-week low of Rs 190.

Following three straight days of decline the Tata Power stock has increased. Tata Power is now trading below the Moving Averages of five, twenty, fifty, one hundred, and two hundred days. The stock has been down 7.99% since the start of this year and has lost 6.27% over the last year. The stock is down 9.32% in a month.

In 2022, the stock generated Flat Returns and traded in a consolidation area. The price range of Tata Power's shares which ranged from Rs 230 on December 13, 2021, to Rs 202 today indicates that the stock has had difficulty extending its recent restricted range.

The Tata Power stock's one-year beta is 1.25% which suggests that volatility will be quite high over that time. In contrast to the industry PE of 10.46, Tata Power has a high PE ratio of 24.76.

The Tata Group company recorded a 5 percent increase in its consolidated net Profit at Rs 935.18 crore in the second quarter of the Current Fiscal mostly due to Higher Revenue. The company's total net profit for the three months ending September 30, 2021, was Rs. 505.66 crore.

From Rs. 10,187.33 crores in Q2 of last year, the company's total revenue rose to Rs. 14,181.07 crores in Q2. Tata Power's PAT, which increased for the 12th Consecutive Quarter showed the viability of its Corporate Strategy the company said.

Last Updated on 02 October 2021

Tata Power's shares rose 4 percent to a 13-year high of Rs 165 in intra-day trading on the BSE on Friday. On January 4, 2008, the previous all-time high was Rs 158. The Tata Group's electric utility firm was trading up for the fourth day in a row, having gained 19 percent in that period. Tata Power's management indicated that the company intends to expand its Renewable Energy portfolio from 4 GW to 15 GW by 2025 and 25 GW by 2030. The transition to green is gaining traction, with its EV charging/solar EPC segments accounting for about 40% of the market. Our Solar Pump/Solar Rooftop Business expanded 8x/4x during Q1FY22, with the highest-ever order book of Rs 1,100 crore across solar pumps.

TWN In-Focus