Share price of Tata Power falls as Nifty strengthens
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Synopsis
A total of 706,314 shares changed hands on the counter till 12:27PM (IST).
The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.73.
Promotor/FII Holding
Promoters held 46.86 per cent stake in the company as of 31-Mar-2024, while foreign investors held 9.45 per cent and domestic institutional investors had 5.59 per cent.
Key Financials
The company reported consolidated sales of Rs 16463.94 crore for the quarter ended 31-Mar-2024, up 7.65 per cent from previous quarter's Rs 15294.13 crore and up 23.55 per cent from the year-ago quarter's Rs 13325.3 crore. Net profit after tax for the latest quarter stood at Rs 895.21 crore, up 15.11 per cent from the same quarter a year ago.
Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
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