Share price of Tata Power falls as Sensex drops 373.9 points

Share price of Tata Power falls as Sensex drops 373.9 points
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Synopsis

Promoters held 46.86 per cent stake in the company as of 31-Mar-2021, while FII and DII ownership stood at 12.17 per cent and 8.83 per cent, respectively.

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Among the 50 stocks in the Nifty index, 35 were trading in the green, while 14 were in the red.

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The share price of Company Ltd. dropped 1.65 per cent to Rs 107.45 at 01:55PM (IST) in Wednesday's trade. The scrip has hit a high of Rs 110.75 and low of Rs 105.5 so far during the session. The stock had closed at Rs 109.25 in the previous session.

The counter has had a total traded volume of 3155387 shares so far with a value of Rs 33.92 crore on the NSE. It traded at a price-to-earnings multiple of 30.7 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 reflects the price investors are willing to pay even for no growth in the business.

The scrip gained 277.68 per cent during the past one year, while the 30-share index advanced 44.72 per cent during the same period.

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 foreign investors and domestic institutional investors ownership stood at 12.17 per cent and 8.83 per cent, respectively.

Key Financials
The firm 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.

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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