Tata Power shares strike down today as Nifty Drops

New Delhi: Tata Power Company Ltd.'s shares traded 0.92% down in Wednesday's trade. The company's shares (around 867,762) changed hands on the counter. 

Tata Power's share opened at Rs 216.35 and touched an intraday high and low of Rs 219 and Rs 212, respectively, in the session so far. 

The stock of Tata Power Company Ltd. quoted a 52-week high of Rs 251.15 and a 52-week low of Rs 182.35.

In contrast, the Nifty rose for the seventh time in the past eight sessions and closed at more than four-month highs on May 4, up 0.92% or 165.9.

Tata Power Financial 

The company's consolidated net sales for the quarter ending March 31, 2023, was Rs 13,325.3 crore, down 7.48% from the previous quarter and 9.05% from the same quarter a year ago. 

Despite this, the net profit for the latest quarter was Rs 777.73 crore, up 54.58% from last year's same quarter. The promoters held 46.86% stake, domestic institutional investors held 3.11%, and foreign institutional investors held 9.46%.