Tata Power shares gain 1.42% as Sensex rises

Shares of Tata Power Company Ltd. traded 1.42 per cent higher in Friday's session at 10:56AM (IST). The stock opened at Rs 229.5 and has touched an intraday high and low of Rs 233.85 and Rs 228.65, respectively, during the session so far.

The stock quoted a 52-week high of Rs 298.0 and a 52-week low of 121.75. About 1,019,526 shares changed hands on the counter so far.

Benchmark Nifty50 was up 13.2 points at 17672.20, while the BSE Sensex traded 24.54 points higher at 59357.14 at the time of writing of this report.

In the Nifty pack, 25 stocks traded the day in the green, while 25 were in the red.


Key Financials
For the quarter ended 30-Jun-2022, the company reported consolidated sales of Rs 14638.78 crore, up 19.8 per cent from the previous quarter's Rs 12219.36 crore and up 44.28 per cent from the year-ago quarter. The company reported net profit of Rs 794.6 crore for the latest quarter.

Promoter Holdings
Promoters held 46.86 per cent stake in the company as of 30-Jun-2022, while FIIs held 10.1 per cent and MFs 3.83 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 231.32 on August 12, while the 50-DMA was at Rs 220.7. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.