Tata Power Company rose 0.06% to Rs 86 at 14:57 IST on BSE after the company announced it has signed a memorandum of understanding with Siberian Coal Energy Company to develop opportunities in the energy sector.
The company made announcement during market hours today, 23 February 2015.
Meanwhile, the S&P BSE Sensex was down 181.95 points or 0.67% at 29,035.36.
On BSE, so far 4.15 lakh shares were traded in the counter as against average daily volume of 4.65 lakh shares in the past two weeks.
The stock hit a high of Rs 87.80 and a low of Rs 85.60 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 73.44 on 20 February 2014.
The stock had outperformed the market over the past one month till 20 February 2015, gaining 4.75% compared with 1.55% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 3.86% as against Sensex's 4.15% rise.
The large-cap integrated power company has equity capital of Rs 270.46 crore. Face value per share is Re 1.
As part of the agreement, both Tata Power and Siberian Coal Energy Company (SUEK) will cooperate on identifying and targeting opportunities in the energy sectors in Russia and other geographies of common interest in order to develop mutually beneficial transactions.
Tata Power Company reported consolidated net profit of Rs 197.74 crore in Q3 December 2014 compared with consolidated net loss of Rs 74.91 crore in Q3 December 2013. Total income rose 8.3% to Rs 9321.34 crore in Q3 December 2014 over Q3 December 2013.
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