Tata Power Stock Continues to Decline, Investors Uncertain as Share Price Drops.

Tata Power Share Price: 4-Day Continuous Decline and 77% Return

📉 Tata Power share price has been continuously declining for the past four days, giving a return of approximately 77%. Even today, investors are confused as the stock is nearly 8% down.

💰 Four days ago, Tata Power shares crossed the mark of INR 400, after which investors started selling. This has affected the share price. As a result, the share, which was valued at INR 409 on February 8th, is now priced at INR 461.

⬇️ Last Friday, Tata Power shares saw a 4% drop. In the last five days, the company’s shares have fallen by almost 10%. The decline in shares reflects in the quarterly results of December.

📈 In December, Tata Power did not perform exceptionally well. The company’s net profit increased by only 2%, reaching INR 1,076 crore. In the same quarter of the previous financial year, the company had earned a net profit of INR 1,052 crore.

🔍 On Wednesday (February 14th, 2024), the share was trading at INR 373, showing a 2.18% increase. According to the company, its total revenue for the December quarter increased to INR 14,841 crore, compared to INR 14,339 crore in the same quarter of the previous financial year.

💹 In the first nine months of the current financial year (April-December 2023), Tata Power’s profit increased to INR 3,235 crore. In the same quarter of the previous financial year, the company had earned a net profit of INR 2,871 crore.

📊 In the first three quarters of the current financial year, the company’s revenue increased to INR 45,286 crore. This is the highest revenue in this period.

🔌 Tata Power has a capacity of 4,270 megawatts in renewable energy business. With this capacity, Tata Power generates 603.1 million units of green energy.

⬇️ Last week, even after profit-taking, Tata shares are still showing a decline. This decline might continue as NuvaMa has lowered Tata Power’s rating and set a new target price of INR 303. This suggests a possible 23% decrease in the share price. NuvaMa Institutional Equities stated that due to the decrease in coal supply, Tata Power’s growth might slow down in 2024-25. It is expected to take two to three years to compensate for the increase in contributions from renewable energy.

💡 On the other hand, Antique Broking has taken a different perspective. In a statement, it said, “Tata’s share price will rise.” The brokerage firm said that Tata Power shares could reach INR 450.

💰 Tata Power’s 52-week high is INR 412.75 and the 52-week low is INR 182.45. The market capitalization of the company is INR 1,17,684.36 crore. In one year, Tata Power shares have increased by 80%, and in the last three months, it has risen by 55%. Technically, the stock’s relative strength index (RSI) is at 83.7, indicating that the stock is trading in the overbought zone.

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