Comments
Tata Power went down by 3 per cent in the early trade on the bourses today, despite the company reporting a growth in profit for the first three months of the current fiscal.
The scrip lost 3.06 per cent to an early low of Rs 1,140 on the NSE. Similarly, on the BSE, it fell 2.8 per cent to touch a low of Rs 1,141.
The power utility’s stock was the worst performer among the Sensex blue-chips in the morning trade today.
Tata Power had yesterday posted a 5 per cent rise in profit after tax to Rs 281.56 crore for the first three months of the current fiscal against Rs 268.98 crore in the April-June period of the previous fiscal.
On a standalone basis, the company’s revenues rose to Rs 1,921.24 crore in the June quarter from Rs 1,867.90 crore in the same period a year ago.
The fall in the stock was in tandem with the sluggish trend in the broader market, with the BSE benchmark Sensex index trading at 17,054.19, down 76.32 points in the morning session.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.