The stock of the Tata Group firm, which closed at Rs 49.65 on August 6, 2020, ended at Rs 235.65 in the previous session (August 4, 2023), delivering 374.62% returns during the period.
Tata Power shares, which hit a 52-week low of Rs 182.45 on March 28, 2023 closed at Rs 235.30 in the previous session, delivering 28.95% returns during the period.
Shares of Tata Power Company Ltd are trading at their key support level of Rs 218 today, a level which they briefly breached on the downside in the previous session. The stock has arrived the support level after a gap of 12 sessions. Tata Power stock hit an intraday low of Rs 217.55 on Thursday, before closing at Rs 219.50 on BSE. They touched an intraday high of Rs 221.50, also the opening level in the previous session.
Tata Power stock ended 1.03% lower at Rs 216.70 in the previous trading session on BSE. Stock of Tata Power has lost 6.72% in a year but risen 4.33% in 2023.
Shares of Tata Power have slipped 21% in the last one year despite the Tata Group firm logging stellar earnings during the period. The 30-stock Sensex is down 0.62% during the same period. Rising interest rates, high debt burden and overall bearish market sentiment have pushed the stock in the red zone, say analysts.