Tata Power surges as its JV inks PPA with NTPC Vidyut Vyapar Nigam
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Tata Power Company is currently trading at Rs. 197.50, up by 0.55 points or 0.28% from its previous closing of Rs. 196.95 on the BSE.
The scrip opened at Rs. 197.05 and has touched a high and low of Rs. 198.15 and Rs. 196.60 respectively. So far 150088 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 269.30 on 18-Apr-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. 198.65 and Rs. 194.25 respectively. The current market cap of the company is Rs. 62980.14 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 24.27% and 28.85% respectively.
Tata Power Delhi Distribution (Tata Power-DDL), a joint venture between Tata Power and the Government of NCT of Delhi, has signed its first medium-term Hydro PPA (Power Purchase Agreement) with NTPC Vidyut Vyapar Nigam (NVVNL) to meet the projected peak demand.
Corresponding to the agreement, NVVNL will supply power to Tata Power-DDL for the next five years during the summer months (May to September), beginning from May 1, 2023. The collaboration will help Tata Power-DDL expands its Green portfolio.
The discom envisioned various policy decisions emphasizing increasing reliance on non-fossil resources and reaffirming its commitment to making a greener planet. Further, considering the prevailing summer period, Tata Power-DDL has made adequate power arrangements to ensure the sufficiency of power supply in its area of operations.
Tata Power Company is India’s largest integrated power company.
