Massive Profits Soar as Tata Power Hits 52-Week High! You Won’t Believe the Numbers!

“Tata Power Company Ltd’s shares reached a new 52-week high on September 8, driven by speculation of a block deal valued at Rs 155 crore. In this block deal on the NSE, approximately 0.2% of the company’s equity changed hands at a price of Rs 270 per share. The identities of the buyers and sellers involved in the transaction have not been disclosed at this time. Tata Power Company’s shares surged to a fresh high of Rs 276.50 today, up from the previous day’s closing price of Rs 263.60 on the BSE. The stock opened higher on the BSE at Rs 265. A total of 55.25 lakh shares of the company were traded, resulting in a turnover of Rs 149.76 crore on the BSE. Consequently, the firm’s market capitalization rose to Rs 86,274 crore.

From a technical perspective, the stock’s relative strength index (RSI) currently stands at 73.1, suggesting that the stock is overbought based on technical analysis. Tata Power has exhibited high volatility over the past year, with a one-year beta of 1.1. Additionally, the company’s stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

In terms of financial performance, Tata Power reported a 22% increase in consolidated net profit, reaching Rs 972.5 crore in the June quarter, compared to Rs 784.6 crore in the same quarter of the previous fiscal year. Revenue also saw a 5% increase, reaching Rs 15,213.3 crore in Q1 compared to Rs 14,495.5 crore in the previous fiscal year’s Q1. Moreover, the company’s EBITDA experienced substantial growth, rising by 75% to Rs 2,943.6 crore in the June quarter from Rs 1,683.4 crore in the previous fiscal year’s June quarter.

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