Tata Power share price jumps 8% after Q1 profit rises

The stock price surged 100 percent in the last three months and was trading at Rs 57.10, up Rs 4.15, or 7.84 percent at 11:53 hours. It has touched an intraday high of Rs 57.85 and an intraday low of Rs 52.65. The scrip was also one of the top BSE midcap gainers.

It was one of the most active stocks on NSE in terms of value with 7,63,31,983 shares being traded. It witnessed a spurt in volume by more than 3.24 times and was trading with volumes of 3,407,638 shares, compared to its five day average of 1,369,528 shares, an increase of 148.82 percent.

"Considering power supply being an essential service and lockdown restrictions being relaxed by the government, the management believes that there is not much of an impact likely due to this pandemic except that there exists some uncertainty over the impact of COVID-19 on future business performance of its coal mining companies and its EPC operations," Tata Power said in its BSE filing.

The management believes that the said uncertainty was unlikely to impact the recoverability of the carrying value its investment in such joint ventures and associates.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages with the Book Value per share improving for last two years.

Moneycontrol technical rating is bullish with moving averages and technical indicators being bullish.

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