Tata Power surges after its arm signs power purchase agreement with TPTCL
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Tata Power Company is currently trading at Rs. 209.00, up by 1.95 points or 0.94% from its previous closing of Rs. 207.05 on the BSE.
The scrip opened at Rs. 207.15 and has touched a high and low of Rs. 209.40 and Rs. 206.50 respectively. So far 344278 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 251.00 on 07-Sep-2022 and a 52 week low of Rs. 182.45 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 209.40 and Rs. 199.60 respectively. The current market cap of the company is Rs. 66654.78 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 23.93% and 29.20% respectively.
Tata Power's step down subsidiary -- TP Saurya has signed a power purchase agreement with Tata Power Trading Company (TPTCL) to set up a 200 MW solar project at Bikaner in Rajasthan. TP Saurya (TPSL) is a subsidiary of Tata Power Renewable Energy (TPREL), which is an arm of Tata Power.
With the latest win, the total renewable energy capacity of TPREL reaches 6,788 MW with an installed capacity of 3,917 MW (solar 2,989 MW and wind - 928 MW) and 2,871 MW under various stages of implementation. The plant will be commissioned by March 2024. TPTCL has entered into a PPA with TPSL for a period of 25 years, and the project will supply 485 million units of energy annually.
Tata Power Company is India’s largest integrated power company.
