Tata Power shares fall 0.2% as Nifty gains
Tata Power Company Ltd. traded 0.2 per cent down at Rs 446.7 on Thursday at around 11:26AM (IST), while the benchmark BSE Sensex advanced 359.09 points to 74580.15.
As many as 284,369 shares changed hands on the counter with a total value of Rs 12.77 crore.
The stock quoted a 52-week high price of Rs 464.3 and a 52-week low of Rs 205.5.
On the technical charts, the 200-DMA of the stock stood at Rs 328.56, while 50-DMA was at Rs 420.08. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.
Shares of the company have advanced 116.01 per cent in the past one year, while Sensex has risen 21.15 per cent during the same period.
According to BSE data, the stock trades at a price-to-earnings multiple of 38.94 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 reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Power — Integrated industry.
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