Tata Power Share Price: Why Tata Power Is Rising and Is It Good Time to Buy Tata Power Share?

A buy call on Tata Power Company has been issued by Anand Rathi, with a target price of Rs 316. Tata Power Company is currently trading at Rs 288.2 on the stock market. When it comes to the price of Tata Power Company Ltd. reaching the target, the expert has predicted that it will take one year.

Tata Power Business Ltd. was established in the year 1919 and is a Mid Cap company (with a market capitalization of Rs 89,469.51 Crore) that operates in the Power industry. Power Supply, Project Management Fees, Other Operating Revenue, Income from Finance Leases, and Fly Ash are the primary products/revenue segments for Tata Power Company Ltd. for the fiscal year ending March 31, 2021, according to the company.

Tata Power Business Ltd. was established in the year 1919 and is a Mid Cap company (with a market capitalization of Rs 90939.36 Crore) that operates in the Power industry. Power Supply, Project Management Fees, Other Operating Revenue, Income from Finance Leases, and Fly Ash are the primary products/revenue segments for Tata Power Company Ltd. for the fiscal year ending March 31, 2021, according to the company.

Financials

The company reported a Consolidated Total Income of Rs 11018.73 Crore for the quarter ended December 31, 2021, an increase of 8.16 percent from the previous quarter’s Total Income of Rs 10187.33 Crore and an increase of 43.05 percent from the same quarter last year’s Total Income of Rs 7702.84 Crore. In the most recent quarter, the company posted a net profit after tax of Rs -106.17 crore.

Tata Power Share Price

Anand Rathi Rates Tata Power Shares as a ‘buy,’ With a Revised Target Price of Rs. 240

A 160 MW alternating current solar project in Jet Star, Rajasthan, has been completed by a Tata Power subsidiary. This project, which uses around 6,75,000 monocrystalline PV modules, will produce 387 megawatt-hours (MUs) of energy per year when fully operational.

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What Is the Best Price at Which I Should Purchase Tata Power?

Anand Rathi writes in The Economic Times about Tata Power’s stock price: “Buy Tata Power Company, target price Rs 316.”

What Is the Reason for Tata Power’s Rise?

The stock of power utility operators, such as Tata Power, has been rising as demand for electricity has increased as a result of the hotter weather.

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According to a statement released last week, the National Company Law Tribunal’s Mumbai bench has approved the company’s merger with Coastal Gujarat Power Ltd (CGPL).

Is Now a Good Time to Purchase Tata Power Stock?

“Tata Power’s stock has been trading at four-month highs for the past week. The corporation has announced strong results for the third quarter. The stock’s chart structure appears to be in good shape from a technical standpoint. In order to profit from the current market conditions, investors should consider purchasing Tata Power shares with goals of 255-270 and a stop loss of 219,” stated Anuj Gupta, Vice President of IIFL Securities.

Here’s why: Tata Consumer Products and Tata Power have the potential to provide more than 20% gains in the short run. A almost 2,400-point rise in the Nifty from its low of 15,671 has occurred in the last five weeks, but it closed below 17,700 on April 7 and filled a rising gap that had been generated just two weeks before. This indicates a neutral trend with a positive bias for the short to medium term.Tata Power Share Price

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This is the second consecutive week that the Nifty has maintained its position above its 20-week simple moving average (SMA), indicating that the index is gaining momentum. At 17,450, the index completed a Cup and Handle pattern breakout and established a Lower Top Lower Bottom pattern, indicating that it may test the breakout level once more in the next days on the daily charts.

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With regard to the indicator itself, on the daily chart, the relative strength index (RSI) remains above the 55-point level, indicating that the market is gaining pace. The levels of 18,000 and 18,350 provide immediate resistance, followed by those of 18,604 and 19,100. The index’s downside support is located at 17,450 (the breakout level), followed by 17,000 and 18,000 levels (cluster of support that is multiple touch point, gap support).

Mudra Yojana Provides Loans Worth Rs 18.60 Lakh Crore to More Than 34.42 Crore Beneficiaries

In celebration of the scheme’s seventh anniversary, Finance Minister Nirmala Sitharman stated, “It is remarkable that more than 34.42 crore loan accounts worth Rs 18.60 lakh crore have been opened under the Scheme for the establishment and expansion of income-generating businesses.”

Since its inception seven years ago, the Pradhan Mantri Mudra Yojana (PMMY) has provided loans totalling Rs 18.60 lakh crore to more than 34.42 crore beneficiaries, according to data released by the Finance Ministry on Friday. On April 8, 2015, Prime Minister Narendra Modi announced the creation of the PMMY, which will provide loans up to Rs 10 lakh to small and micro enterprises (SMEs) that are not corporates or farmers.

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In celebration of the scheme’s seventh anniversary, Finance Minister Nirmala Sitharman stated, “It is remarkable that more than 34.42 crore loan accounts worth Rs 18.60 lakh crore have been opened under the Scheme for the establishment and expansion of income-generating businesses.” According to her, the initiative has contributed to the creation of an enabling environment, notably for small firms, as well as the creation of large-scale job opportunities at the grassroots level.

Conclusion

In addition, more than 68 percent of loan accounts have been sanctioned to women, and 22 percent of loans have been made to new entrepreneurs who had not previously taken out a loan before the scheme’s commencement, according to the minister.

Tata Power Share Price

“With 51 percent of total loans sanctioned so far going to the SC/ST/OBC category, the Pradhan Mantri Mudra Yojana stands for social justice in action and embodies the true spirit of ‘Sabka Saath, Sabka Vikas’ as envisioned by the Prime Minister,” Sitharaman said, while congratulating and wishing all Mudra beneficiaries well and encouraging other prospective borrowers to come forward and participate in the nation-building process.

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