Tata Power drops amid volatility

Tata Power Company lost 1.6% to Rs 89.10 at 11:21 IST on BSE, with the stock sliding amid volatility after the company said that unit-1 of Maithon Power, a subsidiary of the company, has been synchronized with the Grid on 3 December 2014.

The announcement was made after market hours yesterday, 3 December 2014.

Meanwhile, the S&P BSE Sensex was up 50.54 points or 0.18% at 28,493.25.

On BSE, so far 1.21 lakh shares were traded in the counter as against average daily volume of 4.79 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 1.71% at the day's low of Rs 89 so far during the day. The stock rose as much as 0.71% at the day's high of Rs 91.20 so far during the day. The stock had hit a 52-week high of Rs 115.25 on 9 June 2014. The stock had hit a 52-week low of Rs 68.95 on 30 January 2014.

The stock had underperformed the market over the past one month till 3 December 2014, sliding 3.05% compared with Sensex's 2.09% rise. The scrip had also underperformed the market in past one quarter, advancing 0.56% as against Sensex's 4.8% rise.

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

Tata Power Company said that the Y-Phase of Generator Transformer 1 has been successfully repaired and energized on 1 December 2014 and Unit 1 has been synchronized with the Grid on 3 December 2014. It may be recalled that Tata Power had on 11 November 2014 said that Unit-1 of Maithon Power, a subsidiary of the company with Damodar Valley Corporation had tripped due to failure of Y-Phase GT bushing.

Tata Power reported a consolidated net loss of Rs 77.76 crore in Q2 September 2014 compared with net profit of Rs 74.97 crore in Q2 September 2013. Net sales declined 4% to Rs 8364.30 crore in Q2 September 2014 over Q2 September 2013.

Tata Power is integrated power company with a significant international presence. From Fuel and Logistics to Generation and Transmission to Distribution and Trading-exploring various renewable sources of energy in India and globally, the company now has a significant presence in wind, solar, hydro and geothermal energy space.

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