1:10 Stock Split, RSI 67: Multibagger Tata Stock To Mull Dividend On May 8, Buy Call Assigned

Large cap Tata Group stock Tata Power Company Ltd informed today about its upcoming meeting of Board of Directors scheduled to be held in May 8 to consider financial results and dividend. Last trading price of Tata Power Company share on BSE is Rs 431.50 per share with intraday fall of 1.27%. The company has a market capitalisation of Rs 1,37,878.90 crore. Tata Power Company shares offered stunning returns of 70% in last 6-months and 119% in last 1-year.

It is important to note here that 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 Company To Consider Dividend, Results: As per the regulatory 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 and 52-week low price is Rs 193.05 per share, respectively. Tata Power Company Ltd share offered return of 13% in last 1-month, 20% in last 3-months, 58% in last 2-years, and surged 359% in last 3-years. Tata Power Company stock zoomed 505% in last 5-years.

Should You Buy Tata Power Company Share? Leading market analyst VLA Ambala has recommended 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.

Anshul Jain, Head of Research at Lakshmishee Investment & Securities anticipates upside in Tata Power shares as the analyst said that stock has given a fresh breakout on monthly charts. According to Jain there's a "fresh breakout on monthly chart" in Tata Power's stock "after consolidation." The analyst has set a target price range of the stock around Rs 475-480.

A breakout in a stock happens when its price moves beyond a certain level, usually a resistance level, with increased trading volume. This breakout indicates that there's strong buying interest among investors, and it often signals a potential upward trend in the stock's price.

Tata Power Dividend History: Tata Power Company announced 24 dividends since July 9, 2001. In last 12 months, Tata Power Company announced 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 0.46%.

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 Technical: Score is 71.91 indicating stock is technically strong. Stocks with score above 70 are considered as technically strong. RSI is 67.0, RSI below 30 is considered oversold and above 70 overbought. MFI is 74.6, MFI above 70 is considered overbought. This implies that stock may show pullback. Mutual Funds have increased holdings from 3.97% to 5.42% in Dec 2023 quarter, according to Trendlyne.

Tata Power Company About: Tata Power 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, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of VLA Ambala and Lakshmishee Investment & Securities. 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.

Pic key: Tata Power Company Share BSE, Tata Power Company Share Price