Tata Power shares gain 0.91% as Sensex falls

Shares of Tata Power Company Ltd. traded 0.91 per cent up at Rs 222.6 at 10:41AM (IST) on Friday, even as BSE benchmark Sensex dropped 21.01 points to 62827.63.

The stock had closed at Rs 220.6 in the previous session. The stock quoted a 52-week high price of Rs 251.0 and 52-week low of Rs 182.45, respectively. As per BSE data, total traded volume on the counter till 10:41AM (IST) stood at 319152 shares with a turnover of Rs 7.09 crore.

At the prevailing price, the stock traded at 21.34 times its trailing 12-month EPS of Rs 10.44 per share and 2.11 times its price-to-book value, BSE data showed.


A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.73.

Shareholding Details

Promoters held 46.86 per cent stake in the company as of 31-Mar-2023, while FIIs owned 9.46 per cent and DIIs 3.11 per cent.

Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 71.83. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.