Tata Power shares rise 0.23 per cent in Friday’s trading session

Shares of Tata Power Company Ltd. rose 0.23 per cent to Rs 419.0 in Friday’s trade as of 12:07PM (IST) even as the benchmark Nifty ruled at 24353.3, up 236.3 points.

The scrip had closed at Rs 418.0 in the previous session. The stock quoted a 52-week low of Rs 228.1 and a high of Rs 470.85. The company quoted a market-cap of Rs 135082.98 crore on the BSE.

On BSE, 680,877 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 36.56 times its trailing 12-month EPS of Rs 11.56 per share and 3.89 times its book value. The return on equity (ROE) stood at Rs 11.42.

Key Financials

For the quarter ended 30-Jun-2024, Tata Power Company Ltd. reported consolidated sales of Rs 17540.98 crore, up 13.28 per cent from the same quarter a year ago. The company reported 0.16 per cent YoY de-growth in net profit at Rs 970.91 crore for the latest quarter.

Technical indicators

The relative strength index (RSI) of the stock stood at Friday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a “buy” or “sell” recommendation using a single valuation ratio.