May 16 2022

Tata Power share price volume up 21% in 4 days.

Tata Power share price volume up 21% in 4 days.

Tata Power share price volume up 21% in 4 days;

Stock hits a record high Tata Power share price rose 5 percent in intra-day trade to a record high of Rs 287.90 on the BSE. In comparison, the S&P BSE Sensex was down 0.7 percent at 59,742. Tata Power Company Limited is an Indian electric utility company based in Mumbai, Maharashtra, India, and is part of the Tata Group. The main business of the company is power generation, transmission, and distribution. With an installed power generation capacity of 10,577 MW, it is the largest integrated power company in India. Tata Power has been ranked third in the 2017 Responsible Business Rankings developed by IIM Udaipur. In February 2017, Tata Power became the first Indian company to ship more than 1 GW of solar modules. The company started as Tata Hydroelectric Power Supply Company in 1910 and merged with Andhra Valley Power Supply Company in 1916. In 1915, the second hydroelectric project in India with a capacity of 72 MW was started at Khopoli. The second and third power projects were set up at Bhivapuri (75 MW) in 1919 and Bhira (300 MW) in 1922.

Tata Power shares price rise by Rs. Reached a new record high of 287.90.

In comparison, the S&P BSE Sensex fell 0.7 percent to 59,742. Shares of Tata Group's electric utility [tata power share price]company have risen 21 percent in the last four days. On Tuesday, October 19, 2021, the tata power share price raised Rs. Crossed the previous high of 269.70. By 09:50 a.m., the combined over-the-counter trading volume of about 69 million equity shares on the NSE and BSE had almost doubled.
Tata power share price maintained its Buy rating on the multi-bagger stock with a revised target price of ?316 per share. Tata Power shares have rallied over 175% in a year, whereas the Tata Group stock is up more than 28% in 2022 (year-to-date or YTD) so far.
Tata Power's main focus is on renovation, transmission, and distribution as well as customer focus on solar roofs, solar pumps, microgrids, electric vehicle (EV) charging, energy services, home automation, floating solar, and more. The company is a leader in most of the renewable energy sectors in the country. It is a leader in rooftop solar installations, and solar water pumps and dominates the growing EV charging station market in India. Tata Power has already partnered with Apollo Tires, HPCL, TVS Motors, amã Stays & Trails, and others to set up and enhance the EV charging infrastructure. In the October-December quarter (Q3FY22), Tata Power shares reported an annual 74 percent increase in consolidated net profit due to strong all-around business performance. By all verticals. Extended operations at Odisha DISCOMs, high project execution by Tata Power Solar Systems, and strong performance of all other businesses have resulted in the company's consolidated revenue increasing by 42% to Rs. 11,015 crore. Tata Power's well-defined ESG framework/objectives and implementation are on track. The company's growth focus is on solar / wind generation capacity, controlled power transmission/distribution, and new ESG-positive businesses such as EV charging, solar microgrids, rooftop solar, and solar EPC. Regulated businesses provide steady earnings and cash flow, JPMorgan said in a recent report. The steady improvement in working cash flow is likely to fund the equity need for increased capital expenditures, including value unlocking in non-core and renewal, with potential asset monetization, the brokerage firm said.
 
Tata Power shares price to trade above the Bollinger Bands at the highest level of their lives on the daily chart. Also, the shares are valued at Rs. Near-term support is available at 268 levels, followed by Rs. 240 - Their 20-day moving average (DMA). He said the rally could be a bit breathless as speed oscillators were losing steam. The 14-day Relative Strength Index (RSI) is in the overbought zone while the Slow Stochastic Indicator indicates bearish. But, the MACD indicator supports a positive trend.
 
Tata power share price-to-moving average action is also positive, with 20-DMA above 50-DMA and 50-DMA above 100-DMA on the daily chart. Weekly charts also show positive bias.
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Posted by : Gourish Suhas Sawant

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