Tata Power will issue 5,000 unsecured, redeemable, taxable, listed, rated, non-convertible debentures (NCDs) worth Rs 500 crore on a private placement basis.
The NCDs will be allotted on 24 March 2021 and the instrument will be listed on wholesale debt market segment of BSE. The announcement was made during trading hours today, 24 March 2021.
On the technical front, the stock's RSI (relative strength index) stood at 52.937. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 92.95 and its 200-day moving average (DMA) placed at 66.24.
It reported 22.4% rise in consolidated net profit to Rs 318.41 crore on 7.5% increase in net sales to Rs 7,597.91 crore in Q3 FY21 over Q3 FY20.
Shares of Tata Power Co. declined 2.97% to Rs 101.25 on BSE. Tata Power is India's largest integrated power company.
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