📈 Tata Power Share Price Soars Today 🚀
Today, Tata Power company’s shares are experiencing a strong uptrend. In yesterday’s trading session, the company’s share price dropped by 1.49% to close at ₹409.75. The company’s total market capitalization is ₹1.30 lakh crore. Tata Power plans to spend ₹20,000 crore on capital expenditure in the current financial year.
On Tuesday, 14th May 2024, Tata Power’s share price was trading at ₹424.30, up by 3.05%. The price of Tata Power’s shares has increased by 24% in 2024. Over the past year, the company’s shares have provided investors with a 98% return. Tata Power’s shares are trading at 42.4 times earnings and are not trading in the overbought or oversold zone.
On Wednesday, 15th May 2024, the share price rose by 1.32% to ₹436. Tata Power shares are trading above the average price levels for 50 days, 100 days, and 200 days. However, they are trading below the average price levels for 5 days, 10 days, 20 days, and 30 days.
The stock has a beta of 0.9 for one year, indicating lower volatility during this period. Tata Power will allocate half of its potential capital expenditure of ₹20,000 crore to renewable energy, with the rest being spent on distribution, transmission, and development of coal-based plants. The company reported a 11% increase in net profit to ₹1,046 crore for the quarter ending March 2024, compared to ₹939 crore for the same period in March 2023.
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