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Tata Power Gains 3%; BSE POWER Index Up 1.3%
Tue, 24 Sep 14:33

Tata Power Gains 3%; BSE POWER Index Up 1.3%Image source: Eoneren/www.istockphoto.com

Tata Power share price has zoomed 3% and is presently trading at Rs 468.6.

Meanwhile, the BSE POWER index is at 8,681.0 (up 1.3%).

Among the top gainers in the BSE POWER index today are KEC INTERNATIONAL (up 3.6%) and BHEL (up 3.0%).

INDIAN ENERGY EXCHANGE (down 10.7%) and NHPC (down 0.7%) are among the top losers today.

Over the last one year, Tata Power has moved up from Rs 262.1 to Rs 468.6, registering a gain of Rs 206.5 (up 78.8%).

On the other hand, the BSE POWER index has moved up from 4,680.8 to 8,681.0, registering a gain of 85.5% during the last 12 months.

The top gainers among the BSE POWER index stocks during this same period were TORRENT POWER (up 164.1%), BHEL (up 128.3%) and ADANI GREEN ENERGY (up 104.7%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 85,071.7 (up 0.2%).

The top gainers among the BSE Sensex today are Tata Steel (up 4.7%) and Power Grid Corp. (up 2.7%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 25,973.4 (up 0.1%). Tata Steel and Hindalco are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,800.8 to 85,071.7, registering a gain of 18,270.9 points (up 27.4%).

Tata Power Financial Update...

Tata Power net profit grew 13.8% YoY to Rs 8,992 million for the quarter ended June 2024, compared to a profit of Rs 7,903 million a year ago. Net sales rose 13.7% to Rs 172,936 million during the period as against Rs 152,133 million in April-June 2023.

For the year ended March 2024, Tata Power reported 12.3% increase in net profit to Rs 42,801 million compared to net profit of Rs 38,097 million during FY23. Revenue of the company grew 11.5% to Rs 614,489 million during FY24.

The current Price to earnings ratio of Tata Power, based on rolling 12 month earnings, stands at 46.6.

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