Shares of Tata Power rise as Nifty gains
On the technical charts, the 200-day moving average of the stock stood at Rs 296.83.
Shares of gained 0.51 per cent to Rs 416.65 in Monday's trade as of 11:41AM (IST). It hit a high of Rs 418.85 and low of Rs 414.95 during the session.The stock quoted a 52-week high price of Rs 433.2 and a low of Rs 192.1. The return on equity for the stock stood at 11.58 per cent. About 226,446 shares have changed hands on the counter so far.
The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.73.
The scrip has been an outperformer, up 113.5 per cent in the past one year in comparison with a 28.24 per cent gain in .
Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 192.1 on April 08, while the 50-DMA was at Rs 388.25. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.
Promoter/FII Holding
Promoters held 46.86 per cent stake in as of 31-Dec-2023. Mutual funds and foreign institutional investors held 5.42 per cent and 9.86 per cent stake.
Source: Stocks-Markets-Economic Times
