Tata Power shares drop 1.54% as Sensex falls
Tata Power Company Ltd. traded 1.54 per cent down at Rs 433.0 at 12:12PM (IST) on Monday, even as BSE benchmark Sensex dropped 179.39 points to 79817.21.
The scrip had settled at Rs 439.8 in the previous session. The stock quoted a 52-week high price of Rs 464.3 and 52-week low of Rs 216.95, respectively. As per BSE data, total traded volume on the counter till 12:12PM (IST) stood at 416813 shares with a turnover of Rs 18.27 crore.
At the prevailing price, the stock traded at 37.51 times its trailing 12-month EPS of Rs 11.57 per share and 3.89 times its price-to-book value, exchange data showed.
A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.
Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.73.
Shareholding Details
Promoters held 46.86 per cent stake in the company as of 31-Mar-2024, while FIIs owned 9.45 per cent and DIIs 5.59 per cent.
Technicals On the technical charts, the relative strength index (RSI) of the stock stood at 46.99. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts
