"BUY
TATAPOWER FUT ABOVE 235 TARGET 240/244 SL 228"
Today, Tata Power shares rose 2.72 % to Rs 230.25, their intraday
high. They opened at Rs 224, up from Rs 224.15 at the previous close. Tata
Power shares are under pressure to trade, losing their multibagger status in
the last year and in 2022. In the past, the Tata Group's power sector stock
returned 218% over a two-year period. Since December 2020, the stock has risen
from Rs 71.65 to Rs 228 today. In a similar vein, Tata Power's stock rose 328 %
in just three years, placing it among
the power sector's best performers. However, the stock has lost the majority of
its gains since the rally began a year ago. The stock has increased by 3.67 % in a single year and will increase by 3.67 % in 2022. In contrast, the stock of Adani Power
has increased by 228% in a single year and has increased by 222% since the
beginning of this year. During the three-year time frame, the Adani Gathering
stock has zoomed 445%.Tata Power, on the other hand, has a one-year beta of 1.2%, indicating a
period of high volatility. It is currently trading above the 200-day moving
average but below the 5-day, 20-day, 50-day, and 100-day moving averages.
Compared to the 10.46 PE of the industry, Tata Power has a high PE ratio of
28.17.Due to increased revenue, Tata Power's consolidated net profit increased
by 85% to Rs 935.18 crore in the second quarter of the current fiscal year. The
company's net profit for the quarter that ended September 30, 2021, was Rs
505.66 crore.
We thought that the company's businesses had a lot of long-term potential
because it was in the best position to participate in the Government of India's
renewable energy capacity addition program and any privatization. In the event
that we discuss the job of Goodbye Power's part in the electric vehicle area,
the organization is persistently introducing power stations at various areas
and right now added in excess of 1000 or more charging stations and means to
duplicate those by multiple times in the following 5 years. Even though the
company's prospects for the future appear promising, the business has already
reached its peak in recent times. If you're looking long-term, every dip might
be a good time to buy Tata Power.
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