Tata Power Company was up 0.06% to Rs 84.80 at 14:41 IST on BSE, with the stock witnessing intraday volatility after reporting Q2 September 2017 results during market hours today, 3 November 2017.
Meanwhile, the S&P BSE Sensex was up 99.28 points or 0.3% at 33,672.50.
High volumes were witnessed on the counter. On the BSE, 24.49 lakh shares were traded on the counter so far as against average daily volumes of 4.73 lakh shares in the past one quarter. The stock surged as much as 4.3% at the day's high of Rs 88.40 so far during the day. The stock lost as much as 1.12% at the day's low of Rs 83.80 so far during the day. The stock had hit a 52-week high of Rs 91.25 on 3 April 2017 and a 52-week low of Rs 67.10 on 9 November 2016.
The stock had outperformed the market over the past one month till 2 November 2017, advancing 9% compared with the Sensex's 7.32% rise. The stock had, however, underperformed the market over the past one quarter, gaining 2.6% as against the Sensex's 3.38% rise. The scrip had also underperformed the market over the past one year, advancing 9.99% as against the Sensex's 21.96% rise.
The large-cap company has equity capital of Rs 270.48 crore. Face value per share is Rs 1.
Tata Power Company's (Tata Power) consolidated profit after tax (PAT) before one off impacts fell 9.6% to Rs 386 crore on 1.48% growth in revenue to Rs 7393 crore in Q2 September 2017 over Q2 September 2016. Revenue includes regulatory income/expense.
Anil Sardana, CEO & Managing Director, Tata Power said that during the quarter, the company reported robust operational efficiency and performance inspite of a difficult business environment. The company is confident that its strong growth trajectory will continue into the next quarter.
Tata Power's board at its meeting held today, 3 November 2017, approved issuance non-convertible debentures (NCDs) in one or more tranches, upto an aggregate amount not exceeding Rs 3500 crore and for tenor not exceeding 15 years from the date of issue on private placement basis to any persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the NCDs under applicable laws.
Tata Power is India's largest integrated power company with a growing international presence. The company has a presence in all the segments of the power sector viz. fuel security and logistics, generation (thermal, hydro, solar and wind), transmission, distribution and trading.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
