Share price of Tata Power rises as Nifty strengthens

Share price of Tata Power rises as Nifty strengthens
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Synopsis

A total of 3,966,291 shares changed hands on the counter till 12:32PM (IST).

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Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
Shares of Tata Power Company Ltd. gained 0.04 per cent to Rs 278.0 in Friday's trade as of 12:32PM (IST).

The stock hit a high price of Rs 283.0 and low of Rs 272.85 during the session.

The return on equity (ROE) for the stock stood at 5.41 per cent. Traded volume on the counter stood at 12:32PM shares and turnover at Rs 110.28 crore around that time.

The stock of Tata Power Company Ltd. quoted a 52-week high and 52-week low prices of Rs 298.0 and Rs 89.95, respectively.

The Beta value of the counter, which measures its volatility in relation to the broader market, stood at 1.73.

Promotor/FII Holding
Promoters held 46.86 per cent stake in the company as of 31-Dec-2021, while FIIs held 10.84 per cent and domestic institutional investors had 15.57 per cent.

Key Financials
The company reported consolidated sales of Rs 11018.73 crore for the quarter ended 31-Dec-2021, up 8.16 per cent from previous quarter's Rs 10187.33 crore and up 43.05 per cent from the year-ago quarter's Rs 7702.84 crore.

Net profit after tax for the latest quarter stood at Rs 425.81 crore, up 71.55 per cent from the same quarter a year ago.

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