Tata Power gains on getting LoI to acquire Jalpura Khurja Power Transmission
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Tata Power Company is currently trading at Rs. 382.65, up by 6.50 points or 1.73% from its previous closing of Rs. 376.15 on the BSE.
The scrip opened at Rs. 385.00 and has touched a high and low of Rs. 385.00 and Rs. 380.30 respectively. So far 350521 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 412.75 on 09-Feb-2024 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. 386.20 and Rs. 354.65 respectively. The current market cap of the company is Rs. 122221.74 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 26.28% and 26.85% respectively.
Tata Power has received Letter of Intent (LoI) from REC Power Development and Consultancy (a wholly-owned subsidiary of REC) to acquire Jalpura Khurja Power Transmission, a project special purpose vehicle (SPV).
The Project SPV (Jalpura Khurja Power Transmission) would be developed on Build-Own-Operate Transfer basis, to provide transmission service for 35 years from the schedule date of commercial operation (SCOD) which is 18 months from the date of SPV acquisition. The estimated project cost is Rs 838 crore.
Tata Power Company is India’s largest integrated power company.
