Tata Power extends rally on hope of tariff hike

Tata Power Company, one of the India"s largest power generation companies,continued to rally on Friday on the hope of hike in power tariff. Coastal Gujarat Power, a subsidiary of the company, which is executing the 4,000 MW MundraUltra Mega Power Project in Gujarat, presented its case to CERC. Tata Power had approached CERC seeking higher tariff for power generated from the Mundra plant due to expensive imported coal. Shares of the company are trading at Rs 108.20, up Rs 3.65, or 3.49% at the Bombay Stock Exchange (BSE) on Friday at 11:17 a.m. In the earlier session, the shares rose 1.85%, or Rs 1.9, at Rs 104.55. The scrip has touched an intra-day high of Rs 109.15 and low of Rs 106.55. The total volume of shares traded at the BSE is 301,190.Currently, the stock is trading down 10.95% from its 52-week high of Rs 121.50 and above 34.16% over the 52-week low of Rs 80.65.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 102.70 1.85 1.80 1 Month 99.05 5.50 5.55 3 Months 104.70 (0.15) (0.14) 6 Months 100.85 3.70 3.67 1 Year 102.30 2.25 2.20 Note: Based on previous day closing price.