Share price of Tata Power rises as Nifty weakens
Tata Power Company Ltd. gained 0.36 per cent to Rs 422.2 in Thursday's trade as of 12:01PM (IST). The stock hit a high price of Rs 423.4 and low of Rs 419.3 during the session.
The return on equity (ROE) for the stock stood at 11.42 per cent. Traded volume on the counter stood at 12:01PM shares and turnover at Rs 6.64 crore around that time. The stock of Tata Power Company Ltd. quoted a 52-week high price of Rs 470.85 and 52-week low prices of Rs 230.75, respectively.
The stock's Beta value, 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 30-Jun-2024, while foreign investors held 9.51 per cent and domestic institutional investors had 7.24 per cent.
Key Financials The company reported consolidated sales of Rs 17540.98 crore for the quarter ended 30-Jun-2024, up 6.54 per cent from previous quarter's Rs 16463.94 crore and up 13.28 per cent from the year-ago quarter's Rs 15484.71 crore. Net profit after tax for the latest quarter stood at Rs 970.91 crore, down 0.16 per cent from the same quarter a year ago.
Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect «buy» or «sell» opportunities. When the MACD crosses below the signal line, it
