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.
Top stock picks for today: For ICICI Bank, Shah on Wednesday told BT TV that the lender's credit demand would get better with net non-performing asset (NPA) coming down. During the ongoing financial year 2023-24 (FY24), banking and finance sectors (including non-bank or shadow lenders) would continue to perform, he mentioned.
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.
Shares of Tata Power Ltd are trading at a seven-month high easing concerns of investors who intend to book profit on the counter of the Tata Group stock. In fact, the stock has surged over 23 per cent since March 28 this year, surpassing yearly and year-to-date returns of 2.15% and 8.57%, respectively. The stock closed at Rs 225.05 on December 8 last year, a level which the Tata Power stock reclaimed after seven months. Similarly, the Tata Power stock closed at Rs 183.95 on March 28 this year and rallied 23.36% in the next 3.5 months on BSE.
Delhi s electricity bill cannot be reduced unless reforms such as de-licensing of the distributors, breaking the monopoly of a few discoms is undertaken
In its order dated June 22, 2023, the Delhi Electricity Regulatory Commission (DERC) has allowed the power distribution companies (discoms)