Tata Power resumes uptrend; gains 88% in one month

Tata Power Company jumped 17.13% to Rs 260.55, as the scrip resumed its uptrend after a day's pause.

The stock had declined 0.76% to end at Rs 222.45 on the BSE on Thursday (14 October 2021).

In the past one month, the stock has zoomed 88.14% while the benchmark Sensex has added 4.83% during the same period.

On a year-to-date (YTD) basis, the scrip has added 242.96% while the benchmark Sensex rose 29.56% during the same period.

The scrip advanced 18.93% to hit record high of Rs 264.55 in trade today.

On the technical front, the stock's RSI (relative strength index) stood at 77.754. 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, 100-day and 200-day daily simple moving average (SMA) placed at 147.24, 134.01 and 114.36, respectively.

Tata Power together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 13,061 MW. The company has presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics and power trading.

The company reported 89.25% rise in consolidated net profit to Rs 391.03 crore on a 54.47% increase in net sales to Rs 9,968.03 crore in Q1 FY22 over Q1 FY21.

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