Tata Power shares fall 4% despite robust Q4; here’s why
Post Q4, JM Financial has maintained a ‘Buy’ call on Tata Power shares with an upgraded target price of ₹490 per share from ₹440 earlier.
Post Q4, JM Financial has maintained a ‘Buy’ call on Tata Power shares with an upgraded target price of ₹490 per share from ₹440 earlier.
The Tata Group company reported profit growth for the 18th consecutive quarter to ₹1,046 crore for Q4 FY24, up 11% YoY.
The board of NHPC will meet on March 27 to consider the proposal for raising of debt during financial years 2023-24 and 2024-25.
PM Modi laid the foundation of Singrauli Super Thermal Power Project which is being developed in Sonebhadra, Uttar Pradesh with a total investment of ₹17,000 crore.
Shares of Tata Power have fallen over 8% in two sessions after hitting a 52-week high of ₹412.75 in intraday trade on Friday.
For the first nine months of the current fiscal, the profit grew 13% YoY to ₹3,235 crore, while revenue rose 5% to ₹45,286 crore.
The company’s board is scheduled to meet on December 29 to consider and approve issue of taxable bonds under private placement.
The transmission project, having estimated cost of ₹1,544 crore, to enable evacuation of 7.7 GW of green power from the Bikaner Complex in Rajasthan
Tata Power reported 8.79% rise in consolidated net profit at ₹1,017.41 crore in Q2 FY24; revenue grew 9% to ₹15,442 crore.
The Adani group stock touched a 52-week high of ₹410 on September 12, 2023, rebounding over 200% from its 52-week low of ₹132.55 hit on February 28, 2023.