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24 September, 2020 14:41 IST
Tata Power Co falls over 4% on Jefferies downgrade
Source: IRIS | 26 Feb, 2020, 02.22PM
Rating: NAN / 5 stars.
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Tata Power Company, an integrated power company, touched a 52-week low of Rs 50.35, falling 2.6 percent in the early trade on February 26 after foreign research hosue downgraded the stock and cut the target price.

Research house Jefferies downgraded the stock to hold from buy and also cut target price to Rs 55 from Rs 90 per share.

According to Jefferies, between a renewable energy acquisition & incremental capex, a material debt decline seems elusive, while lower coal prices led to a 15-20 percent decline in our FY20-21 EPS.

Shares of Tata Power Company are trading at Rs 49.40, down Rs 2.3, or 4.45% at the Bombay Stock Exchange (BSE) on Wednesday at 1:09 p.m.

The scrip has touched an intra-day high of Rs 51.30 and low of Rs 48.90. The total volume of shares traded at the BSE is 397,972.

In the earlier session, the shares declined 0.29%, or Rs 0.15, at Rs 51.70.

Currently, the stock is trading at all time 52-week low, which is below 35.76% over the 52-week high of Rs 76.90.