Torrent Power gains on securing contract to supply 920 MW gas based electricity
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Torrent Power is currently trading at Rs. 538.00, up by 2.60 points or 0.49% from its previous closing of Rs. 535.40 on the BSE.
The scrip opened at Rs. 537.00 and has touched a high and low of Rs. 545.00 and Rs. 535.90 respectively. So far 4119 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 609.90 on 22-Aug-2022 and a 52 week low of Rs. 416.00 on 19-May-2022.
Last one week high and low of the scrip stood at Rs. 549.50 and Rs. 516.05 respectively. The current market cap of the company is Rs. 25792.30 crore.
The promoters holding in the company stood at 53.57%, while Institutions and Non-Institutions held 29.51% and 16.93% respectively.
Torrent Power has received a contract to supply 920 MW gas based electricity from its DGEN and SUGEN plants under a tender of NTPC Vidyut Vyapar Nigam (NVVN). The ministry of power had designated NVVN as the nodal agency for procurement of up to 4,000 MW power from gas-based plants during identified crunch period (April 10, 2023 to May 16, 2023, with actual offtake for 21 days). The NVVN had floated a tender for this on March 10, 2023.
Torrent Power had participated in the e-tender and subsequent eRA (electronic reverse auction) and awarded 920 MW (770 MW from DGEN plant and 150 MW from SUGEN plant).
Torrent Power is an integrated utility engaged in the business of power generation, transmission and distribution with operations in the states of Gujarat, Maharashtra and Uttar Pradesh.
