Torrent Power shares zoom 17% to hit record high after Q1 FY25 results. Details here

Torrent Power Ltd shares rose sharply in Wednesday's trade to scale their all-time high levels. The stock surged 16.78 per cent to hit a high of Rs 1,868. It was last seen trading 16.98 per cent higher at Rs 1,871.30. At this price, the scrip has gained 98.60 per cent on a year-to-date (YTD) basis.

The utility player reported an 87 per cent year-on-year (YoY) jump in its first-quarter profit for the ongoing financial year 2024-25 (Q1 FY25) on the back of strong merchant power sales in gas-based power plants and rise in licensed distribution businesses. Consolidated net profit rose to Rs 972 crore in the April-June quarter. Revenue from operations rose 23 per cent YoY to Rs 9,034 crore.

During the quarter under review, EBITDA or earnings before interest, taxes, depreciation, and amortisation was up 52 per cent YoY at Rs 1,934 crore.

The company has also acquired Torrent Urja 18 Pvt Ltd for a cost of Rs 1,00,000. Torrent Urja is involved in the business of hydrogen.

On the stock-specific front, Torrent Power's stock saw high trading volume on BSE today as around 2.70 lakh shares changed hands at the time of writing this story. The figure was higher than the two-week average volume of 29,000 shares. Turnover on the counter came at Rs 48.01 crore, commanding a market capitalisation (m-cap) of Rs 89,425.96 crore.

The counter was trading traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 81.52. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-equity (P/E) ratio of 42.76 against a price-to-book (P/B) value of 6.39. Earnings per share (EPS) stood at 37.41 with a return on equity of (RoE) 14.94.

As of June 2024, promoters held a 53.57 per cent stake in the company.