Crorepati Stock: Tata Stock To Buy Ahead Of Dividend, TP Rs 485: ICICI Securities

Leading brokerage firm ICICI Securities has recommended buy call to Tata Power Company Ltd share with target price of Rs 485 per share. The analyst has urged traders to keep stop loss at Rs 398. Current market price of Tata Power Company share price on BSE is Rs 436.75 apiece with intraday gain of 1.22%. The large cap stock operating in integrated power utilities industry has a market capitalisation of Rs 1,39,556.45 crore. Tata Power Company share offered 86% return in last 6-months and 120% in last 1-year.

LIC Stake In Tata Power: It is worth mentioning that Life Insurance Corporation of India (LIC) has 7.90% stake in Tata Power Company with 252,564,287 shares and General Insurance Corporation Of India has 1.01% stake in the company with 32,143,500 shares.

Tata Power Turns Rs 29.65 Lakh To Rs 1.06 Cr In 3-Years: If you had purchased 30, 000 shares of Tata Power 3 years ago at Rs 98.85 per share (as on April 30, 2021) you would have got a total corpus of Rs 1,06,42,932 crore and a net profit of Rs 76,77,432 lakh with an investment of Rs 29,65,500. During these 3 years, Tata Power also declared final dividend of Rs 2.00/ share in 2023, again a final dividend of Rs 1.75/share in 2022, and a dividend of Rs 1.55/share in 2021. Dividend income has also been included in the corpus of Rs 1,06,42,932 crore.

Tata Power To Consider Dividend, Results On May 8: As per the regulatory filing of Tata Power Company issued on 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 Dividend History: The company announced 24 dividends since July 9, 2001 and expected to declare 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 436.75 per share is taken into perspective, Tata Power gives a dividend yield of 0.46%.

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 197.65 per share (as on 27/04/2023), respectively. Tata Power Company Ltd share offered return of 75% in last 2-years, soared 353% in last 3-years, and jumped 545% in last 5-years.

Tata Power Stock Split History: Tata Power Company split the face value of its shares once since September 26, 2011. It 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: The score is 65.7 indicating the stock is technically strong. Stocks with score above 70 are considered as technically strong. RSI is 68.4, RSI below 30 is considered oversold and above 70 overbought. MFI is 68.2, 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 ICICI 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.