Tata Power shares down 1.15% as Nifty gains
Tata Power Company Ltd. traded 1.15 per cent down in Tuesday's trade at 11:41AM (IST). Around 424,523 shares changed hands on the counter.
The stock opened at Rs 435.7 and touched an intraday high and low of Rs 437.9 and Rs 430.45, respectively, in the session so far. Shares of the company of Tata Power Company Ltd. quoted a 52-week high of Rs 464.3 and a 52-week low of Rs 216.35.
As per BSE, the total market cap of the Tata Power Company Ltd. stood at Rs 139220.94 crore at the time of writing this report.
Key Financials The company reported consolidated net sales of Rs 16463.94 crore for the quarter ended 31-Mar-2024, up 7.65 per cent from previous quarter's Rs 15294.13 crore and up 23.55 per cent from the year-ago quarter's Rs 13325.3 crore.
The net profit for latest quarter stood at Rs 895.21 crore, up 15.11 per cent from the corresponding quarter last year.
Shareholding pattern As of 31-Mar-2024, domestic institutional investors held 5.59 per cent stake in the firm, while foreign institutional investors held 9.45 per cent and the promoters 46.86 per cent.
Valuation ratio According to BSE data, the stock traded at a price-to-earnings multiple of 37.67 and a price-to-book ratio of 3.89. 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 —
