Shares of this stock under the Tata Group universe are trading in green and zoomed around 4 percent post reports covering a large Block Deal pertaining to the shares of the company. Year-to-date, the company’s stock has soared close to 32 percent.
With a market capitalization of Rs 87,568.28 crores, the stocks of Tata Power Company Limited started their trading session Friday at Rs 265 and currently trade at Rs 274, gaining approximately 4 percent as compared to the previous closing levels of Rs 263.60 apiece.
Such bullish movements in the Tata group stock are observed after various reports covering a large trade that took place with respect to the company’s shares via a Block Deal. Around 52.5 Lakh equity shares, equating to a 0.2 percent stake in the company, exchanged hands on 8th September 2023.
Having a glance at the financial numbers reported by the company, it is steadily increasing its fundamental business parameters including the operating revenues as well as after-tax profits.
During the recent quarters, the company’s operating revenues went up from Rs 12,453.76 crores during Q4FY22-23 to Rs 15,213.29 crores during Q1FY23-24, and, the after-tax profits moved up from Rs 759.7 crores to Rs 790.3 crores during the same time horizon.
Additionally, the company has been successful in generating decent returns on equity (RoE) and returns on capital employed (RoCE) with the former increasing from 12.13 percent during FY21-22 to 14.87 percent during FY22-23, and, the latter, moving from 10.13 percent to 13.3 percent keeping the timeframe the same.
According to the shareholding pattern data available for the June 2023 quarter, the company’s Promoters hold a 46.86 percent stake, and the Foreign Institutional Investors hold a 9.75 percent stake in the company.
Incorporated in 1915, The Tata Power Company Limited is a company based in India that is engaged in the business of generating, transmitting, and distributing electricity within and outside the country. The company has various segments spanning Renewables, Transmission & Distribution, and other segments.
Written by Amit Madnani
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