Shares of Tata Power gained over 3% today amid reports that the private power generation firm is planning to raise up to Rs 2,000 crore via bonds for financing its business operations.
Tata Power stock gained up to 3.22% to Rs 201.30 against the previous close of Rs 197 on BSE. Total 13.46 lakh shares changed hands amounting to a turnover of Rs 26.87 crore.┬аMarket cap of the firm rose to Rs 64,785 crore. The stock hit a 52-week high of Rs 298 on April 7, 2022 and a 52-week low of Rs 190 on June 20, 2022.
Tata Power stock has gained after three days of consecutive fall. Tata Power is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has lost 6.27% in a year and fallen 7.99% since the beginning of this year. In a month, the stock is down 9.32%.┬а
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The stock has delivered flat returns in 2022 and traded in a consolidation zone. Tata Power stock traded between Rs 230 (December 13, 2021) to Rs 202 (today) signaling that the stock has struggled to break out from the narrow range during the period.
The Tata Power stock has a one-year beta of 1.25%, indicating very high volatility during the period. Tata Power has a high PE ratio of 24.76 against the industry PE of 10.46.
In the second quarter of the current fiscal, the Tata Group firm reported a 5 per cent rise in its consolidated net profit to Rs 935.18 crore, mainly on the back of higher revenue. The consolidated net profit of the company was Rs 505.66 crore in the quarter ended September 30, 2021.
The total income of the company rose to Rs 14,181.07 crore in Q2 from Rs 10,187.33 crore a year ago.
Tata Power’s PAT (profit after tax or net profit) rose for the 12th consecutive quarter, demonstrating the effectiveness of its business strategy, the company said.
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