Tata Power Share Price: Shares of Tata Power, the flagship power arm of the Tata Group, gained nearly 5 per cent on Friday (March 20). The rally was supported by the Gujarat government’s move to approve a revised power supply pact with the company, according to documents reviewed by Reuters.
The imported coal-fired plant had remained non-operational for the past six months after the government withdrew the emergency clause last year. This clause had allowed companies to be compensated for generating power using expensive imported coal, Reuters reported.
The revised agreement is yet to receive approval from the federal power regulator. Once approved, it is expected to take effect retrospectively from April 2025.
However, the document reviewed by Reuters did not specify the exact pricing of the power supply. However, the Gujarat government has mandated that the price must not exceed the rates paid by other states.
“I think Tata Power should be bought. After a long time, it is crossing Rs 410. If it sustains above Rs 410 for the next 5–7 minutes, it has the potential to move to Rs 418 and then Rs 435. Maintain a stop-loss around Rs 396 and buy for targets of Rs 418 and Rs 435,” an analyst told ET Now Swadesh.
Tata Power Share Price
As of 12:25 pm, Tata Power shares were up 2.1 per cent, or Rs 8.2, trading at Rs 406.65. The stock touched a high of Rs 418.40 during the session, reflecting an upside of nearly 5 per cent from the previous close of Rs 398.50.
Tata Power Stock Performance
Tata Power has delivered a strong performance across multiple timeframes, reflecting sustained growth momentum.
In the short term, the stock gained 2.95 per cent in one week and 8.30 per cent over two weeks, while rising 7.58 per cent in one month. Year-to-date, it is up 6.50 per cent.
Over the medium term, returns stand at 6.86 per cent in three months and 2.62 per cent in six months.
Long-term performance remains impressive, with gains of 9.83 per cent in one year, 7.04 per cent in two years, and a remarkable 100.64 per cent over three years. Over five and ten years, the stock surged 290.21 per cent and 595.64 per cent, respectively, highlighting strong wealth creation.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
