Tata Power rises on getting LoA from GUVNL to develop 60 MW solar project
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Tata Power Company is currently trading at Rs. 104.35, up by 0.90 points or 0.87% from its previous closing of Rs. 103.45 on the BSE.
The scrip opened at Rs. 105.40 and has touched a high and low of Rs. 105.45 and Rs. 103.30 respectively. So far 1283334 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 114.95 on 15-Mar-2021 and a 52 week low of Rs. 27.00 on 12-May-2020.
Last one week high and low of the scrip stood at Rs. 106.50 and Rs. 96.55 respectively. The current market cap of the company is Rs. 33231.53 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 36.96% and 16.17% respectively.
Tata Power has received a Letter of Award (LoA) from Gujarat Urja Vikas Nigam (GUVNL) on March 26, 2021 to develop a 60 MW solar project in the state of Gujarat. The energy will be supplied to GUVNL under a Power Purchase Agreement (PPA), valid for a period of 25 years from scheduled commercial operation date. The company has won this capacity in a bid announced by GUVNL in January 2021. The project has to be commissioned within 18 months from the date of execution of the PPA.
Tata Power is India’s largest integrated power company.
