Tata Power shares up 0.44% as Sensex rises

Shares of Tata Power Company Ltd. gained 0.44 per cent to Rs 206.3 in Monday's session as of 01:11PM (IST) even as the equity benchmark Sensex traded 805.74 points higher at 60706.11.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 298.0 and a 52-week low of Rs 190.0 on NSE. Around 204239 shares changed hands on the counter till 01:11PM (IST).

The stock opened at Rs 206.15 and has touched an intraday high and low of Rs 207.2 and Rs 205.55 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 25.92, earnings per share (EPS) of Rs 7.96 and price to book value (PB) of 3.4, while the return on equity (ROE) stood at Rs 7.75.

Promoter/ FII Holding
The promoters held 46.86 per cent stake in the company as of January 09, while FII and MF ownerships stood at 10.1 per cent and 3.83 per cent, respectively.

Key Financials
With a market capitalisation of Rs 65903.88 crore, the company operates in the Power - Integrated industry. For the quarter ended 30-Sep-2022, the company reported consolidated sales of Rs 14181.07 crore, down 3.13 per cent from the previous quarter?s Rs 14638.78 crore and down 39.2 per cent from the same quarter a year ago. The company reported net profit of Rs 819.09 crore for the latest quarter, up 94.32 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 40.29. 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. 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.