Tata Power share price up 2.99 per cent

Shares of Tata Power Company Ltd. traded 2.99 per cent up at Rs 347.8 at around 10:05AM (IST) on Friday. The stock had closed at Rs 337.7 in the previous session. Equity benchmark Sensex traded 270.18 points higher at 72117.75 around the same time. The scrip has climbed 67.49 per cent in the last one year till date, while the 30-share index has gained 18.89 per cent during the same period.

The stock’s 52-week high price stood at Rs 349.65 and the 52-week low price at Rs 182.45.

Trading volume on the counter stood at 766,266 shares, while it quoted a price-to-earnings ratio of 31.14, an EPS value of 11.17 and a price-to-book value of 2.11. In the Nifty50 pack, 34 stocks traded in the green, while 15 stocks were in the red.

Promoter/FII Holding
Promoters held 46.86 per cent stake in the company as of 30-Jun-2023, while overseas investor and MF ownership stood at 9.75 per cent and 3.05 per cent, respectively.

Key Financials
For the quarter ended 30-Sep-2023, the company reported consolidated sales of Rs 16029.54 crore, up 3.52 per cent from the previous quarter’s Rs 15484.71 crore and up 13.03 per cent from the year-ago quarter’s Rs 14181.07 crore. The company reported net profit of Rs 875.53 crore for the latest quarter.

Technical Indicators
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on top of the MACD to reflect “buy” or “sell” opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.