Shares of Tata Power rise as Nifty drops

Shares of Tata Power rise as Nifty drops
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 152.79.

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India 10-year bond yield declined 0.40 per cent to 5.98 after trading in 5.98 -6.04 range.
Shares of Company Ltd. gained 0.02 per cent to Rs 223.6 in Thursday's trade as of 12:08PM (IST). It hit a high of Rs 225.25 and low of Rs 219.7 during the session.

The stock quoted a 52-week high price of Rs 269.7 and a low of Rs 74.5. The return on equity for the stock stood at 5.41 per cent. About 1,360,880 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.73.

The scrip has been an outperformer, up 171.19 per cent in the past one year in comparison with a 30.4 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 74.5 on January 06, while the 50-DMA was at Rs 226.91. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 46.86 per cent stake in Tata Power Company Ltd. as of 30-Sep-2021. Mutual funds and foreign institutional investors held 8.3 per cent and 11.06 per cent stake.

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