Shares of Tata Power Company hit a record high in early deals. Tata Power shares surged 1.87% to a high of Rs 457.50 against the previous close of Rs 449.10 on BSE. Market cap of Tata Power climbed to Rs 1.45 lakh crore on BSE. A total of 3.17 lakh shares of the firm changed hands amounting to a turnover of Rs 14.38 crore. Tata Power stock declined to a 52-week low of Rs 199.35 on May 5, 2023. The power sector stock has gained 39% in 2024 and risen 127% in a year.
Multibagger stock: BHEL shares gained 2.87% to a high of Rs 284.75 against the previous close of Rs 276.80 on BSE. Market cap of the power equipment maker climbed to Rs 97,236 crore.
Shares of multibagger Bharat Heavy Electricals Ltd (BHEL) hit their 52 week high in early deals on Friday. With today’s rally, the PSU stock has risen 254% in a year and gained 427% in two years. The multibagger stock, which closed at Rs 53.8 on April 28, 2022 climbed to a 52 week high of Rs 283.40 on BSE today. It is trading in the overbought zone, signals relative strength index (RSI) of BHEL stock which stands at 72.8. Investors and traders are bullish on the stock as BHEL shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.
Shares of NBCC India rose over 6% in early deals today after the govt-owned civil construction firm said the company has accorded the in-principle approval for incorporation of a wholly owned subsidiary company in Dubai (UAE) subject to the approval of its administrative ministry i.e. Ministry of Housing and Urban Affairs (MoHUA). The Navratna PSU stock gained 6.20% to Rs 144.70 today. Shares of NBCC have zoomed 265.90% in a year and gained 123% in six months. However, the multibagger stock saw high volatility with a beta of 1.1 in the last one year.