Tata Power shares rise 0.65% as Nifty drops

Tata Power shares rise 0.65% as Nifty drops
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The stock quoted a 52-week high price of Rs 269.7 and a 52-week low of Rs 74.5.

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Agarwal said the global economy is showing clear signs of recovery. The second wave of Covid-19 is ebbing in India with total active cases at less than 20 per cent of May highs.
Shares of Company Ltd. traded 0.65 per cent up at Rs 246.85 on Friday at around 10:51AM (IST), while the benchmark BSE Sensex declined 291.37 points to 60943.93.

As many as 1,322,464 shares changed hands on the counter with a total value of Rs 32.57 crore.

The stock quoted a 52-week high price of Rs 269.7 and a 52-week low of Rs 74.5.

On the technical charts, the 200-DMA of the stock stood at Rs 156.87, while 50-DMA was at Rs 228.77. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 187.83 per cent in the past one year, while Sensex has risen 33.78 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 54.2 and a price-to-book ratio of 1.58. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Power - Integrated industry.

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