The share price of Tata Power Company Ltd. gained 3.1 per cent to Rs 357.05 at 10:25AM (IST) in Wednesday’s trade. The stock has hit a high of Rs 357.35 and low of Rs 343.75 so far during the session. The stock had closed at Rs 346.3 in the previous session.

The counter has had a total traded volume of 841,703 shares so far with a value of Rs 29.65 crore on the NSE. It traded at a price-to-earnings multiple of 31.81 and a price-to-book ratio of 2.11.

A higher price-to-earnings ratio shows investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations.

The price-to-book value indicates the inherent value of a company and reflects the price investors are willing to pay even for no growth in the business.

The scrip gained 73.66 per cent during the past one year, while the 30-share index advanced 16.82 per cent during the same period.

Tata Power Company Ltd. belongs to the Power – Integrated industry.

Promoters held 46.86 per cent stake in the company as of 31-Dec-2023, while FIIs and domestic institutional investors ownership stood at 9.86 per cent and 5.42 per cent, respectively.

The company reported consolidated sales of Rs 16,029.54 crore for the quarter ended 30-Sep-2023, up 3.52 per cent from the previous quarter’s Rs 15,484.71 crore and up 13.03 per cent from the year-ago quarter’s Rs 14,181.07 crore.

Profit for the latest quarter stood at Rs 875.53 crore, up 6.89 per cent from the same quarter a year ago.