Tata Power shares hit a new record high of Rs 287.90, up 5% on the BSE in Wednesday’s intra-day trade, on the back of heavy volume on an improved business outlook. In comparison, the S&P BSE Sensex fell 0.7% to 59,742.
Tata Group’s electric utilities company’s stock has risen 21% in the last four trading days. It surpassed its previous high of Rs 269.70 set on October 19, 2021, on Tuesday. The counter’s trading volume nearly doubled, with around 69 million equity shares changing hands on the NSE and BSE until 09:50 a.m.
Tata Power’s primary focus is on renewables, transmission, and distribution, as well as customer-focused businesses such as solar rooftops, solar pumps, microgrids, electric vehicle (EV) charging, energy services, home automation, and floating solar.
The company is a market leader in the majority of renewable energy segments in the country. It is the market leader in rooftop solar installations, solar water pumps, and the rapidly growing EV charging station market in India.
Tata Power already collaborates with Apollo Tyres, HPCL, TVS Motors, am Stays & Trails, and others to establish and improve EV charging infrastructure. Due to increased operations in Odisha DISCOMs, higher project execution by Tata Power Solar Systems, and strong performance across all businesses, the company’s consolidated revenue increased by 42% to Rs 11,015 crores in Q3 FY21 from Rs 7,756 crores in Q3 FY21.
According to the brokerage firm, the steady improvement in operating cash flow is likely to fund the equity requirement for growth capex as well as potential asset monetization, i.e. both non-core and value unlocking in renewable.
Tata Power shares were trading at all-time highs after breaking through the Bollingar Band on the daily charts. As a result, the shares may find short-term support at Rs 268, followed by Rs 240 – their 20-day moving average (DMA).
Choose a perfect platform for share bidding. Tata Power is India’s largest integrated power company, offering conventional and renewable energy, power services, and next-generation customer solutions such as solar rooftop and EV charging stations.
Tata Power is one of India’s largest integrated power companies, offering conventional and renewable energy, power services, and next-generation customer solutions such as solar rooftop, EV charging stations, and home automation.
Tata Power is one of India’s largest integrated power companies, offering conventional and renewable energy, power services, and next-generation customer solutions such as solar rooftop, EV charging stations, and home automation.
Tata Power shares and its subsidiaries and joint ventures have 12772 MW of generation capacity, with 30 percent coming from clean and green sources. Through our green initiatives, they hope to shape the future.
On the daily charts, the price-to-moving-averages action is also positive, with the 20-DMA above the 50-DMA and the 50-DMA above the 100-DMA. The weekly charts also show a positive bias.
However, momentum oscillators appear to be losing steam, suggesting that the rally may take a breather. The 14-day Relative Strength Index (RSI) is overbought, while the slow stochastic indicator indicates a slowing of momentum. The MACD indicator, on the other hand, continues to support the positive trend.
चेन्नई सुपर किंग्स (CSK) इंडियन प्रीमियर लीग (IPL) की सबसे प्रतिष्ठित और सफल टीमों में…
मुंबई इंडियंस (MI) इंडियन प्रीमियर लीग (IPL) की सबसे सफल टीमों में से एक है।…
आपकी रोजमर्रा की जरूरतों को पूरा करने के लिए, जैसे कि जानना कि आपके निकटतम…
You can choose the right and good locksmith services if you know what you are…
Advertizing has become an essential tool in today’s world through which any business entity tries…
Forex trading is one of the most popular ways to earn money today without breaking…