Torrent Power surges on planning to increase renewable energy portfolio
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Torrent Power is currently trading at Rs. 516.80, up by 19.55 points or 3.93% from its previous closing of Rs. 497.25 on the BSE.
The scrip opened at Rs. 501.00 and has touched a high and low of Rs. 517.70 and Rs. 500.50 respectively. So far 23813 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. 416.00 on 19-May-2022.
Last one week high and low of the scrip stood at Rs. 517.70 and Rs. 462.00 respectively. The current market cap of the company is Rs. 24826.26 crore.
The promoters holding in the company stood at 53.57%, while Institutions and Non-Institutions held 29.44% and 17.00% respectively.
Torrent Power is planning to increase its renewable energy portfolio through acquisition of existing projects and is also looking for new opportunities in transmission and distribution sectors. At present the company is not developing any coal or gas-based power project. The under-development solar capacity is 400MW, while under-construction wind capacity is 415 MW.
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.
