Tata Power trades higher on inking pact to install EV charging points at GAIL Gas' CNG stations in Bengaluru
Tata Power Company is currently trading at Rs. 207.40, up by 0.40 points or 0.19% from its previous closing of Rs. 207.00 on the BSE.
The scrip opened at Rs. 207.00 and has touched a high and low of Rs. 208.15 and Rs. 207.00 respectively. So far 55286 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 298.00 on 07-Apr-2022 and a 52 week low of Rs. 190.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 208.55 and Rs. 205.00 respectively. The current market cap of the company is Rs. 66303.30 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 has signed an agreement with GAIL Gas (a wholly owned subsidiary of GAIL (India)), to install DC fast charging points at two of GAIL Gas CNG retail outlets (CNG stations) in Bengaluru. The partnership is in line with Tata Power's commitment to encourage and promote electric mobility across the country and GAIL Gas' commitment to deliver convenience to its customers who wish to switch to E-vehicles.
Tata Power is a pioneer in the EV charging space and runs an expansive network of over 3600 charging points across 450+ cities, covering petrol pumps, metro stations, shopping malls, theatres, and highways. The company is present across all segments of the EV eco-system: public charging, captive charging, home charging, workplace charging, and ultra-rapid chargers for buses.
In the next 5 years, Tata Power plans to install 25000 public EV charging stations across the length and breadth of the country. GAIL Gas is a leading City Gas Distribution company in India implementing CGD projects in 25 Geographical Areas along with its JVs covering 50 Districts.
Tata Power Company is India's Largest Integrated Power Company.