Tata Power shares 2.22% as Sensex falls

Shares of Tata Power Company Ltd. traded 2.22 per cent in Wednesday’s session at 12:36PM (IST). The stock opened at Rs 413.45 and has touched an intraday high and low of Rs 416.20 and Rs 404.40, respectively, during the session so far.

The stock quoted a 52-week high of Rs 494.85 and a 52-week low of 251.40. About 905,336 shares changed hands on the counter so far.

Benchmark Nifty50 was 184.55 points at 23698.9, while the BSE Sensex traded 479.3 points at 78195.88 at the time of writing of this report.

In the Nifty pack, 7 stocks traded the day in the green, while 43 were in the red.

Key Financials
For the quarter ended 30-Sep-2024, the company reported consolidated sales of Rs 16210.8000 crore, 7.58 per cent from the previous quarter’s Rs 17540.9800 crore and 1.13 per cent from the year-ago quarter. The company reported net of Rs 926.53 crore for the latest quarter. Promoter Holdings
Promoters held 46.86 per cent stake in the company as of 30-Sep-2024, while FIIs held 9.15 per cent and MFs 9.13 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 425.44 on November 13, while the 50-DMA was at Rs 445.41. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.