Tata Power drops 16.14% in two sessions

Tata Power Company dropped 8.27% to Rs 57.15 at 12:30 IST on BSE, with the stock extending a sharp slide registered yesterday, 24 August 2015.

Meanwhile, the BSE Sensex was down 21.38 points, or 0.08%, to 25,720.18.

On BSE, so far 7.73 lakh shares were traded in the counter, compared with an average volume of 4.06 lakh shares in the past one quarter.

The stock hit a low of Rs 55.70 so far during the day, which is a 52-week low for the stock. The stock hit a high of Rs 63.20 in intraday trade so far. The stock hit a 52-week high of Rs 94.90 on 5 November 2014.

The stock had underperformed the market over the past one month till 24 August 2015, sliding 13.05% compared with 8.43% fall in the Sensex. The stock had also underperformed the market in past one quarter, declining 17.76% as against Sensex's 7.93% decline.

Shares of Tata Power have declined 16.14% in the preceding two trading sessions. The stock tumbled 8.58% in a single trading session to settle at Rs 62.30 yesterday, 24 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 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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