A decline was seen in most of the heavyweight stocks of the stock market on Monday. Today there was a big drop in Reliance and Infosys stocks. At the same time, a Tata Group share fell 4 percent. This stock is TATA Power, which fell over 4 per cent during afternoon trade. Shares of Tata Power today fell 4.26% to Rs 426.20, while the previous closing price was Rs 445.20.
Tata Power share has increased by 75% in a year and there is an increase of 30% in 2024. Amid the increase, the stock has also seen many ups and downs during this period. Its one-year beta is 1.5. Tata Power’s market capitalization fell to Rs 1.36 lakh crore on the BSE.
A total of 5.13 lakh shares of the company were traded, resulting in a turnover of Rs 22.16 crore. Tata Power shares fell to a 52-week low of Rs 244 on November 3, 2023 and hit a 52-week high of Rs 494.85 on September 27, 2024.
What is this participation technically like?
Technically, the RSI of Tata Power stock is at 50.5, which indicates that the stock is neither in the overbought nor the oversold zone. Tata Power stock is trading below the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. This Tata Group company had announced its second quarter results last week, on October 30.
The company reported its highest-ever quarterly profit of Rs 1,533 crore, up 51% from Rs 1,017 crore in the second quarter of the last financial year.
Will this share amount to Rs 577?
Global brokerage firm Morgan Stanley has expressed more confidence in this stock after its second quarter results. He has set a target price of Rs 577 for this Tata group company. Another brokerage firm Jefferies has forecast weak performance for this company by maintaining a target price of Rs 340. While domestic brokerage firm Motilal Oswal has set a target of Rs 519 for this stock after the second quarter results.
(Note: Before investing in any stock, definitely seek the help of a financial advisor.)
