Tata Power shares down 1.0% as Nifty drops

NEW DELHI: Shares of Tata Power Company Ltd. traded 1.0 per cent down in Tuesday's trade at 01:53PM (IST). Around 340,507 shares changed hands on the counter.

The stock opened at Rs 219.4 and touched an intraday high and low of Rs 219.8 and Rs 215.55, respectively, in the session so far. The stock of Tata Power Company Ltd. quoted a 52-week high of Rs 251.0 and a 52-week low of Rs 182.45.

As per BSE, the total market cap of the Tata Power Company Ltd. stood at Rs 69195.08 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 13325.3 crore for the quarter ended 31-Mar-2023, down 7.48 per cent from previous quarter's Rs 14401.95 crore and down 9.05 per cent from the year-ago quarter's Rs 12219.36 crore.

The net profit for latest quarter stood at Rs 777.73 crore, up 54.58 per cent from the corresponding quarter last year.

Shareholding pattern
As of 31-Mar-2023, domestic institutional investors held 3.11 per cent stake in the company, while foreign institutional investors held 9.46 per cent and the promoters 46.86 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 20.74 and a price-to-book ratio of 2.11. 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 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.