Tata Power shares in news today, here's why
Tata Power shares ended 0.80% higher at Rs 425.80 on BSE in the previous session. Market cap of the firm stood at Rs 1.36 lakh crore.
- Oct 29, 2024,
- Updated Oct 29, 2024 8:37 AM IST
Shares of Tata Power are in news on Tuesday after the firm said the company has executed a Share Purchase Agreement with Khorlochhu Hydro Power (KHPL) for the acquisition of a 40% stake in KHPL for Rs 830 crore. The investment will be made in one or more tranches in the equity stake of KHPL.
Tata Power shares ended 0.80% higher at Rs 425.80 on BSE in the previous session. Market cap of the firm stood at Rs 1.36 lakh crore. A total of 9.08 lakh shares of the firm changed hands amounting to a turnover of Rs 38.40 crore. Tata Power stock slipped to a 52-week low of Rs 234.95 on October 30, 2023 and rose to record high of Rs 494.85 on September 27, 2024.
The power sector stock has gained 89.24% in 2024 and risen 79% in a year.
Amid the rally, the stock has also been highly volatile during the same period. Its one year beta stands at 1.6.
In terms of technicals, the relative strength index (RSI) of Tata Power stock stands at 36.5, signaling the stock is trading neither in the overbought nor in the oversold zone. Tata Power shares are trading lower than the 5 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
"The Board of Directors of The Tata Power Company Limited had proposed acquisition of 40% equity stake in Khorlochhu Hydro Power Limited (“KHPL”) in one or more tranches. In this connection, we wish to inform you that, the Company has today executed the Share Purchase Agreement between the Company, existing Shareholder of KHPL and KHPL," said Tata Power.
Shares of Tata Power are in news on Tuesday after the firm said the company has executed a Share Purchase Agreement with Khorlochhu Hydro Power (KHPL) for the acquisition of a 40% stake in KHPL for Rs 830 crore. The investment will be made in one or more tranches in the equity stake of KHPL.
Tata Power shares ended 0.80% higher at Rs 425.80 on BSE in the previous session. Market cap of the firm stood at Rs 1.36 lakh crore. A total of 9.08 lakh shares of the firm changed hands amounting to a turnover of Rs 38.40 crore. Tata Power stock slipped to a 52-week low of Rs 234.95 on October 30, 2023 and rose to record high of Rs 494.85 on September 27, 2024.
The power sector stock has gained 89.24% in 2024 and risen 79% in a year.
Amid the rally, the stock has also been highly volatile during the same period. Its one year beta stands at 1.6.
In terms of technicals, the relative strength index (RSI) of Tata Power stock stands at 36.5, signaling the stock is trading neither in the overbought nor in the oversold zone. Tata Power shares are trading lower than the 5 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
"The Board of Directors of The Tata Power Company Limited had proposed acquisition of 40% equity stake in Khorlochhu Hydro Power Limited (“KHPL”) in one or more tranches. In this connection, we wish to inform you that, the Company has today executed the Share Purchase Agreement between the Company, existing Shareholder of KHPL and KHPL," said Tata Power.