Tata Power gains as its step-down arm signs MoU with SIDBI
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Tata Power Company is currently trading at Rs. 264.10, up by 1.35 points or 0.51% from its previous closing of Rs. 262.75 on the BSE.
The scrip opened at Rs. 263.20 and has touched a high and low of Rs. 267.50 and Rs. 261.00 respectively. So far 862722 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 276.50 on 08-Sep-2023 and a 52 week low of Rs. 182.45 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 276.50 and Rs. 256.35 respectively. The current market cap of the company is Rs. 83877.66 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 24.66% and 28.47% respectively.
Tata Power Company’s step-down subsidiary -- Tata Power Solar Systems (TPSSL) has signed a Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI) to offer an easy financing option for MSMEs. TPSSL is wholly owned subsidiary of Tata Power Renewable Energy (TPREL). TPREL is a subsidiary of Tata Power.
MSMEs that are willing to opt for Rooftop Solar PV Plant or associated services from Tata Power or its authorised Channel Partners across India will be financially supported by SIDBI under the scheme. Under this strategic partnership, TPSSL and SIDBI will encourage solar energy adoption among Micro, Small & Medium Enterprises by offering customised & innovative financing solutions through SIDBI's 4E (End to End Energy Efficiency) Scheme. The 4E solar financing scheme offers TPSSL’s customers an array of compelling benefits, including the most competitive interest rates and loan limit to meet the requirement of the MSME sector.
Tata Power Company is India’s largest integrated power company.
