1:10 Stock Split, 25th Dividend On May 8: Buy Multibagger Tata Stock Under Rs 450, TP Rs 550

Two leading analysts have recommended buy and hold call on Tata Power Company Ltd share with maximum target price of Rs 550 apiece. Current market price of Tata Power Company share on BSE is Rs 428.00 per share with intraday fall of 0.44%. The company has a market capitalisation of Rs 1,36,760.53 crore. Tata Power Company shares offered return of 121% in last 1-year only.

Life Insurance Corporation of India (LIC) has 7.90% stake in Tata Power Company with 252,564,287 shares while General Insurance Corporation Of India has 1.01% stake in the company with 32,143,500 shares of the firm. More details below:

Tata Power To Mull Dividend, Results On May 8: According to the BSE filing of Tata Power Company dated April 15, 2024, "a Meeting of the Board of Directors of The Tata Power Company Limited ('the Company') is scheduled to be held on Wednesday, May 8, 2024, inter alia, to consider, approve and take on record the Audited Financial Results (both Standalone and Consolidated) of the Company and to recommend dividend, if any, for the financial year ended March 31, 2024."

Tata Power Company Share Performance: The 52-week high price of Tata Power Company share on BSE is Rs 444.10 per share (as on 12/04/2024) and 52-week low price is Rs 193.05 per share (as on 20/04/2023), respectively. Tata Power Company Ltd share declined nearly 2% in last 1-week, gained 30% year-to-date, surged 70%, and rallied 358% in last 3-years. Tata Power Company shares offered return of 506% in last 5-years.

Should You Buy Tata Power Company Share? Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has hold call on Tata Power Company share with target price of Rs 477-497 apiece and stop loss at Rs 416 per share. According to the analyst, "Tata Power is observing a higher high formation on the day chart, which is a sign of strength. Even the momentum indicator RSI is positively poised. The stock is outperforming the benchmark index. This suggests that the momentum on the upside is likely to continue. One can hold the stock at current prices with a stop loss of Rs 416 for a target of Rs 477- 497 levels in the next couple of weeks."

Meanwhile, VLA Ambala assigned buy call for Tata Power Company share and call it a quality stock with the potential to be part of any investment portfolio. The bullish sentiment recommends holding and adding more at the current market price with a target price in the range of Rs 420 to Rs 550 and keeping stop loss at Rs 390. The holding period remains between 15 days to 150 days.

Tata Power Stock Split History: Tata Power Company split the face value of its shares once since September 26, 2011. Tata Power Company last split the face value of its shares from Rs 10 to Re 1 in 2011.The share traded ex-split from September 26, 2011.

Tata Power Dividend History: The large cap declared 24 dividends since July 9, 2001 and likely to announce 25th dividend on May 8, 2024. In last 1-year, the large cap Tata Group company declared an equity dividend amounting to Rs 2.00 per share. If current share price of Rs 431.60 is taken into perspective, Tata Power Company offers a dividend yield of 0.47%.

Tata Power Technical: The score is 71.6 implying the stock is technically strong. Stocks with score above 70 are considered as technically strong. RSI is 63.9, RSI below 30 is considered oversold and above 70 overbought. MFI is 76.8, MFI above 70 is considered overbought. This implies that stock may show pullback. Mutual Funds have increased holdings from 5.42% to 5.59% in Mar 2024 quarter. Number of FII/FPI investors increased from 563 to 564 in Mar 2024 quarter. according to Trendlyne.

Tata Power Company About: It is India's Largest Integrated Power Company, present across the entire power value chain of conventional & renewable energy, power services and next-generation customer solutions including solar rooftop and EV charging stations, as per its official website.

Disclaimer: The stock has been picked from the brokerage report of Arihant Capital Markets and VLA Ambala. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.