Share price of Tata Power rises as Nifty strengthens

A total of 266,707 shares changed hands on the counter till 10:00AM (IST).

Shares of gained 2.36 per cent to Rs 397.55 in Thursday's trade as of 10:00AM (IST). The stock hit a high price of Rs 399.0 and low of Rs 390.85 during the session.

The return on equity (ROE) for the stock stood at 11.58 per cent. Traded volume on the counter stood at 10:00AM shares and turnover at Rs 10.57 crore around that time. The stock of quoted a 52-week high price of Rs 433.2 and 52-week low prices of Rs 182.45, 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 31-Dec-2023, while overseas investors held 9.86 per cent and domestic institutional investors had 5.42 per cent.

Key Financials
The company reported consolidated sales of Rs 15294.13 crore for the quarter ended 31-Dec-2023, down 4.59 per cent from previous quarter's Rs 16029.54 crore and down 6.19 per cent from the year-ago quarter's Rs 14401.95 crore. Net profit after tax for the latest quarter stood at Rs 953.01 crore, up 0.85 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish 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 gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.

Source: Stocks-Markets-Economic Times