Tata Power sees large trade worth Rs 155 crore, stock hits 52-week high

Tata Power is engaged in the business of generating, transmitting, and distributing electricity. It operates a diverse range of power plants, encompassing thermal, hydro, and renewable energy facilities.

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Tata Power stock hit a 52-week high at Rs 276.50 as it saw 0.2 percent equity change hands in a large trade worth Rs 155 crore on September 8th, Bloomberg data showed. Nearly 52.5 lakh shares of Tata Power were sold in a block deal at a price of Rs 270 per share on the NSE.

It was not immediately clear who the buyers or sellers were in the deal.

At 11.30 am on the NSE, the Tata Power Company stock was quoting at Rs 274.45, up Rs 10.75, or 4.08 percent.

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In Q1FY24, the company reported a 4.95 percent year-on-year (YoY) increase in its revenue from operations at Rs 15,213 crore. Net profits for the quarter were up 29.07 percent YoY to Rs 1,141 crore. The operating profit margins expanded by 600 basis points on year to 18 percent.

Tata Power is engaged in the business of generating, transmitting, and distributing electricity. It operates a diverse range of power plants, encompassing thermal, hydro, and renewable energy facilities. The company caters to a broad spectrum of customers, including industrial, commercial, and residential sectors.

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