Tata Power Company surges as its arm signs MoU with Government of Andhra Pradesh
Tata Power Company is currently trading at Rs. 359.55, up by 8.25 points or 2.35% from its previous closing of Rs. 351.30 on the BSE.
The scrip opened at Rs. 356.95 and has touched a high and low of Rs. 361.85 and Rs. 354.40 respectively. So far 220715 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. 326.25 on 17-Feb-2025.
Last one week high and low of the scrip stood at Rs. 361.85 and Rs. 332.00 respectively. The current market cap of the company is Rs. 114664.76 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 Memorandum of Understanding (MoU) with the Government of Andhra Pradesh to collaborate and explore opportunities in the development of renewable energy projects in the state.
Under this strategic agreement, TPREL and the Government of Andhra Pradesh will jointly explore Renewable Energy (RE) development opportunities of up to 7,000 MW (7 GW), including Solar, Wind, and Hybrid projects with or without storage solutions. The estimated investment in these projects stands at approximately upto Rs 49,000 crore, making it one of the largest renewable energy investments in the state.
This partnership aligns with the State’s vision to enhance its renewable energy portfolio and accelerate the transition towards a sustainable and green energy future. Additionally, beyond contributing to Andhra Pradesh’s clean energy targets, this MoU will provide a boost to the local economy, foster skill development and support livelihoods, ultimately contributing to the socio-economic growth of the state.
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.
