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Tata Power Plunges 6%; BSE POWER Index Down 4.2%
Mon, 5 Aug 11:27

Tata Power Plunges 6%; BSE POWER Index Down 4.2%Image source: peterschreiber.media/www.istockphoto.com

Tata Power share price has plunged 6% and is presently trading at Rs 433.5.

Meanwhile, the BSE POWER index is at 8,118.7 (down 4.2%).

Among the top losers in the BSE POWER index today are KEC INTERNATIONAL (down 7.0%) and ADANI ENERGY SOLUTIONS (down 6.6%).

Over the last one year, Tata Power has moved up from Rs 244.4 to Rs 433.5, registering a gain of Rs 189.1 (up 77.4%).

On the other hand, the BSE POWER index has moved up from 4,365.8 to 8,118.7, registering a gain of 86.0% during the last 12 months.

The top gainers among the BSE POWER index stocks during this same period were BHEL (up 174.5%), TORRENT POWER (up 160.3%) and ADANI POWER (up 156.0%).

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What About the Benchmark Indices?

The BSE Sensex is at 78,523.1 (down 3.0%).

The top losers among the BSE Sensex today are Tata Motors (down 6.4%) and Tata Steel (down 5.1%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,914.3 (down 3.3%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 78,523.1, registering a gain of 12,063.8 points (up 18.2%).

Tata Power Financial Update...

Tata Power net profit fell 4.0% YoY to Rs 7,292 million for the quarter ended March 2024, compared to a profit of Rs 7,597 million a year ago. Net sales rose 27.2% to Rs 158,466 million during the period as against Rs 124,538 million in January-March 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 44.6.

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