Tata Power on February 9 reported a 71.6 percent year-on-year rise in consolidated net profit to Rs 425.8 crore for the quarter ended December.
Tata Power Company
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var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); 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//$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Tata Power share price gained nearly 3 percent intraday to Rs 236.75 on February 16 after foreign research house Morgan Stanley raised the target price.
Research firm Morgan Stanley has maintained an equal-weight rating on Tata Power and raised the target price to Rs 228 per share, reported CNBC-TV18.
The key catalyst to watch is the valuation ascribed to green businesses and terms being agreed upon for Mundra resolution, said the research firm.
The earnings have been revised by 2 percent, -6 percent & 10 percent for F22-24, it added.
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Tata Power on February 9 reported a 71.6 percent year-on-year rise in consolidated net profit to Rs 425.8 crore for the quarter ended December.
The power generator reported a 43.6 percent on-year rise in consolidated revenue from operations to Rs 10,913.1 crore.
The company’s cost of power purchase jumped sharply in the reported quarter to Rs 3,631.7 crore from Rs 1,802.3 crore. Similarly, transmission charges more than doubled on-year to Rs 250 crore.
Growth in topline was led by transmission business, which reported an 83.5 percent year-on-year rise in revenues to Rs 7,125.7 crore.
At 11:32 hrs Tata Power Company was quoting at Rs 233.85, up Rs 3.45, or 1.50 percent on the BSE.
The share touched a 52-week high of Rs 269.70 and a 52-week low of Rs 86.35 on 19 October, 2021 and 15 February, 2021, respectively.
Currently, it is trading 13.29 percent below its 52-week high and 170.82 percent above its 52-week low.
