Torrent Power moves up on completing acquisition of stake in Surya Vidyut
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Torrent Power is currently trading at Rs. 484.10, up by 3.30 points or 0.69% from its previous closing of Rs. 480.80 on the BSE.
The scrip opened at Rs. 480.00 and has touched a high and low of Rs. 485.90 and Rs. 477.40 respectively. So far 14534 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 606.05 on 15-Dec-2021 and a 52 week low of Rs. 375.00 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 490.50 and Rs. 456.75 respectively. The current market cap of the company is Rs. 23108.05 crore.
The promoters holding in the company stood at 53.57%, while Institutions and Non-Institutions held 29.20% and 17.24% respectively.
Torrent Power has completed transaction of acquisition of 100% Equity Share Capital of Surya Vidyut (SPV), wholly owned subsidiary of CESC. Surya Vidyut operates 156 MW Wind power plants (the Projects), spread across the states of Gujarat, Rajasthan and Madhya Pradesh. Long-term Power Purchase Agreements (PPAs) for the Projects are with respective State Discoms for a period of 25 years, with weighted average PPA tariff of Rs 4.68/ kWh.
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.
