Tata Power Company gains on bargain hunting

Tata Power Company rose 2.21% to Rs 60.15 at 15:30 IST on BSE after sliding 13.64% in previous two trading sessions.

Meanwhile, the BSE Sensex was down 315.41 points, or 1.21% to 25,716.97.

On BSE, so far 5.83 lakh shares were traded in the counter, compared with an average volume of 4.21 lakh shares in the past one quarter.

The stock hit a high of Rs 61.60 and low of Rs 57.85 so far during the day. The stock had hit a 52-week high of Rs 94.90 on 5 November 2014. The stock had hit a 52-week low of Rs 55.70 yesterday, 25 August 2015.

Shares of Tata Power had tumbled 13.64% in two trading sessions to settle at Rs 58.85 yesterday, 25 August 2015, from a recent high of Rs 68.15 on 21 August 2015.

The large-cap company has an equity capital of Rs 270.46 crore. Face value per share is Re 1.

On a consolidated basis, Tata Power Company reported net profit of Rs 241.33 in Q1 June 2015 compared with net loss of Rs 111.30 crore in Q1 June 2014. The company's total income rose 7.2% to Rs 9396.60 crore in Q1 June 2015 over Q1 June 2014.

Tata Power is India's largest integrated power company with a growing international presence.

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