Tata Power Company rises as its step down arm signs MoU with Tata Motors
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Tata Power Company is currently trading at Rs. 447.70, up by 7.90 points or 1.80% from its previous closing of Rs. 439.80 on the BSE.
The scrip opened at Rs. 446.55 and has touched a high and low of Rs. 448.05 and Rs. 443.00 respectively. So far 73071 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 470.85 on 02-Aug-2024 and a 52 week low of Rs. 230.75 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 448.90 and Rs. 411.15 respectively. The current market cap of the company is Rs. 140531.03 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 25.32% and 27.80% respectively.
Tata Power Company’s subsidiary -- Tata Power Renewable Energy’s (TPREL) subsidiary -- Tata Power EV Charging Solutions has signed Memorandum of Understanding (MoU) with Tata Motors to set up 200 fast-charging stations for electric commercial vehicles (CV) in all metros cities viz. Mumbai, Delhi, Chennai, Bengaluru, Kolkata. This strategic move expands their ongoing collaboration, in providing sustainable mobility solutions, with a focus on easy charging solutions for small electric commercial vehicles.
As part of this initiative, Tata Motors and Tata Power will provide exclusive charging tariffs for Tata Motors' electric CV owners, resulting in lower operating costs and increased profitability for its customers. Electric CV users across the Country, will soon benefit from access to almost 1000 strategically located fast chargers, with the planned expansion of the charging network.
The company has expanded its network under the brand name of EZ Charge to over 1,00,000 home chargers, 5,500+ public, semi-public, and fleet charging points, along with 1100+ bus charging stations across 530 cities and towns. These chargers have been strategically deployed at diverse and accessible locations such as highways, hotels, malls, hospitals, offices, residential complexes, etc. This concerted effort has been instrumental in facilitating the exponential growth of electric mobility in India.
Tata Motors offers the Ace EV, India’s most advanced electric small commercial vehicle, which is supported by over 150 Electric Vehicle Service Centres nationwide. The Ace EV features an advanced battery management system and 'Fleet Edge' telematics, utilizing smart technologies to improve vehicle uptime and road safety with real-time insights into vehicle status, health, location, and driver behaviour.
Tata Power Company is India’s largest integrated power company.
