Torrent Power
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Showing posts with label Torrent Power. Show all posts
Showing posts with label Torrent Power. Show all posts
Monday, November 07, 2011
Friday, July 08, 2011
Thursday, August 05, 2010
Thursday, February 05, 2009
Torrent Power pledges shares
Torrent Power today said one of its promoter, Torrent Pvt Ltd, has pledged 11.07 per cent stake of the company with lenders.
Torrent Pvt Ltd has pledged 5.22 crore shares, representing 11.07 per cent stake in the company, the company said in a filing to the Bombay Stock Exchange.
As on December 31, 2008, Torrent Pvt Ltd had 249.32 crore shares, representing 52.77 per cent stake of the company.
The disclosure of pledged shares by Torrent Power comes after market regulator Sebi asking promoters of the listed companies to disclose the amount of shares pledged with lenders.
The regulator's announcement comes in the wake of the Satyam scam, wherein promoter Ramalinga Raju had pledged nearly all his shares whose prices he had inflated by falsifying profits.
Shares of Torrent Power settled at Rs 71.20, down 0.84 per cent on the BSE.
Thursday, August 21, 2008
Torrent Power
We recommend a buy in Torrent Power from a short-term perspective. From the charts of Torrent Power we observe that the stock has been on a medium-term uptrend since its early July low of Rs 83 level. On August 4, the stock surged 8 per cent accompanied with heavy volume, penetrating the 50-day moving average.
The stock gained 4 per cent with good volume on August 20, reinforcing bullish momentum. The daily relative strength index has re-entered into the bullish zone. Moreover, the daily moving average convergence and divergence is steadily rising in line with the stock in the positive territory. The stock is trading well above its 21 and 50-day moving averages.
The stock’s medium-term uptrend is intact with the trendline. We notice high volumes during the advance days of the stock. Our short-term forecast for the stock is bullish. We expect the stock to move up until it hits our price target of Rs 133 in the approaching trading sessions. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 114.
Friday, June 22, 2007
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