Tata Power Company gains as its arm inks MoU with ONGC
Tata Power Company is currently trading at Rs. 354.35, up by 6.10 points or 1.75% from its previous closing of Rs. 348.25 on the BSE.
The scrip opened at Rs. 350.15 and has touched a high and low of Rs. 357.45 and Rs. 350.15 respectively. So far 231513 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 494.85 on 27-Sep-2024 and a 52 week low of Rs. 338.50 on 13-Jan-2025.
Last one week high and low of the scrip stood at Rs. 372.65 and Rs. 339.00 respectively. The current market cap of the company is Rs. 113274.79 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 25.49% and 27.64% respectively.
Tata Power Company’s subsidiary -- Tata Power Renewable Energy (TPREL) has signed a non-binding Memorandum of Understanding (MoU) with Oil and Natural Gas Corporation (ONGC), India’s premier energy company, to explore joint opportunities in the Battery Energy Storage System (BESS) and its value chain.
The collaboration aims to jointly explore and identify commercial opportunities across various segments of the BESS value chain, including utility-scale systems, grid stabilization services, renewable energy integration, microgrids, hybrid energy solutions, industrial and commercial storage solutions, backup power, electric vehicle (EV) charging infrastructure, and energy trading through ancillary services.
This collaboration between TPREL and ONGC underscores their shared commitment to promoting sustainable energy solutions and driving India’s energy transition. By exploring joint opportunities in the battery energy storage sector, both companies aim to contribute significantly to the country’s renewable energy targets and build a robust, future-ready energy ecosystem.
Tata Power Company is India’s largest integrated power company. It is a pioneer credited with steering the energy sector on technology, process and platform.
