Share price of Tata Power jumps as Sensex gains 179.93 points

Share price of Tata Power jumps as Sensex gains 179.93 points
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Synopsis

A total of 1,682,980 shares changed hands on the counter till 01:07PM (IST)

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tate-owned Canara Bank invited bids to sell 30 per cent stake in its housing finance subsidiary.

INSIGHTS

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Share price of Company Ltd. gained 0.05 per cent to Rs 102.95 at 01:07PM (IST) in Friday's trade. The stock hit a high of Rs 104.0 and low of Rs 102.3 so far during the session. The stock had closed at Rs 102.9 in the previous session.

The counter had a total traded volume of 01:07PM shares so far with a turnover of Rs 17.32 crore on BSE. The stock traded at a price-to-earnings multiple of 28.96 and a price-to-book ratio of 0.49.

A higher price-to-earnings ratio shows investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations.

The price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Tata Power Company Ltd. belongs to the Power - Integrated industry.

Promotor/FII Holding
Promoters held 46.86 per cent stake in the company as of 31-Mar-2021, while overseas investors and domestic institutional investors ownership stood at 12.17 per cent and 20.07 per cent, respectively.

Key Financials
The company reported consolidated net sales of Rs 7702.84 crore for the quarter ended 31-Dec-2020, down 8.75 per cent from the previous quarter's Rs 8441.6 crore and down 7.94 per cent from the year-ago quarter's Rs 7136.04 crore.

Its profit for the latest quarter stood at Rs 248.21 crore, up 38.77 per cent from the same quarter a year ago.

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