Torrent Power trades in green on entering into PPA for supply of 300MW solar energy from upcoming solar project
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Torrent Power is currently trading at Rs. 388.20, up by 4.05 points or 1.05% from its previous closing of Rs. 384.15 on the BSE.
The scrip opened at Rs. 397.50 and has touched a high and low of Rs. 397.50 and Rs. 384.75 respectively. So far 21557 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 434.90 on 17-Mar-2021 and a 52 week low of Rs. 291.50 on 19-May-2020.
Last one week high and low of the scrip stood at Rs. 407.50 and Rs. 375.00 respectively. The current market cap of the company is Rs. 18739.25 crore.
The promoters holding in the company stood at 53.57%, while Institutions and Non-Institutions held 28.69% and 17.75% respectively.
Torrent Power has been awarded a Power Purchase Arrangement (PPA) for the supply of 300 MW capacity of Solar Power Generation to be set up in Gujarat, from Licensed Distribution Business Unit of the company towards fulfilment of its RPO (renewable purchase obligation). The project shall be commissioned within 18 months from the date of execution of the PPA. The tariff for this project is Rs 2.22/ kWh for a period of 25 years. The cost involved in the project is about Rs 1,250 crore.
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.
