Tata Power Company is currently trading at Rs. 100.65, down by 0.75 points or 0.74% from its previous closing of Rs. 101.40 on the BSE.
The scrip opened at Rs. 100.70 and has touched a high and low of Rs. 101.10 and Rs. 99.80 respectively. So far 151694 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 132.40 on 22-Jul-2011 and a 52 week low of Rs. 80.65 on 20-Dec-2011.
Last one week high and low of the scrip stood at Rs. 106.30 and Rs. 99.80 respectively. The current market cap of the company is Rs. 23932.43 crore.
The promoters holding in the company stood at 31.81% while Institutions and Non-Institutions held 48.43% and 16.53% respectively.
Global rating agency, Standard & Poor’s (S&P) has downgraded the credit rating outlook of Tata Power to ‘negative’ from ‘stable’ due to high debt and rising expenditure at the 4,000 mw ultra mega project at Mundra.
The outlook revision reflects the company’s expectation that its cash flow and financial risk profile could deteriorate over the next six to nine months because the company has breached a debt-to-equity ratio covenant on loans to its Mundra project.
Meanwhile, S&P has maintained Tata Power's long-term corporate credit rating as well as issue rating on its senior unsecured notes at ‘BB-’. This rating generally indicates less vulnerability in the near- term but faces major ongoing uncertainties to adverse business, financial and economic conditions.
S&P noted that it could lower the company’s rating if it is unable to get a waiver from lenders on the breach of covenant, among other factors. It may also revise Tata Power’s outlook to ‘stable’ if the company secures necessary waiver and construction at Mundra continues as planned, among others.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
| View more.. | |
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