Tata Power shares up 2.41% as Nifty gains
Tata Power Company Ltd. traded 2.41 per cent up in Tuesday's trade at 10:05AM (IST). Around 856,921 shares changed hands on the counter.
The scrip opened at Rs 237.05 and touched an intraday high and low of Rs 242.4 and Rs 236.15, respectively, in the session so far. The stock of Tata Power Company Ltd. quoted a 52-week high of Rs 251.0 and a 52-week low of Rs 182.45.
Total market cap of the Tata Power Company Ltd. stood at Rs 76927.8 crore at the time of writing this report.Key Financials The company reported consolidated sales of Rs 13325.3 crore for the quarter ended 31-Mar-2023, down 7.48 per cent from previous quarter's Rs 14401.95 crore and down 9.05 per cent from the year-ago quarter's Rs 12219.36 crore. The net profit for latest quarter stood at Rs 777.73 crore, up 54.58 per cent from the same quarter a year ago.Shareholding pattern As of 30-Jun-2023, domestic institutional investors held 3.05 per cent stake in the company, while foreign institutional investors held 9.75 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 23.06 and a price-to-book ratio of 2.11.
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.
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