Tata Power rises as its arm inks MoU with Government of Gujarat
Tata Power Company is currently trading at Rs. 359.80, up by 2.55 points or 0.71% from its previous closing of Rs. 357.25 on the BSE.
The scrip opened at Rs. 361.95 and has touched a high and low of Rs. 361.95 and Rs. 357.25 respectively. So far 678643 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 361.95 on 11-Jan-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. 361.95 and Rs. 337.50 respectively. The current market cap of the company is Rs. 114856.48 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 26.02% and 27.12% respectively.
Tata Power Company's subsidiary -- Tata Power Renewable Energy (TPREL) has signed a Memorandum of Understanding (MoU) with the Government of Gujarat (GoG) to develop 10,000 MW of Renewable Energy Power projects across multiple sites in Gujarat. This collaboration will support achieving the ambitious goal of generating 50% of power from renewable sources by 2030.
This MoU highlights TPREL’s commitment to contributing substantially to India's renewable energy landscape. The 10,000 MW Renewable Energy Power projects comprising solar, wind, hybrid, RTC, peak, and Firm and Dispatchable Renewable Energy (FDRE), covering an extensive 50,000 acres of encumbrance-free Government land, is scheduled to be developed in strategic locations across the state of Gujarat with a total investment potential of Rs 70,000 crore, potentially generating employment for over 3,000 people. This signing by TPREL reflects the shared commitment with GoG to drive sustainable development, economic progress and employment in Gujarat through the Renewable Energy Power projects.
Tata Power Company is India’s largest integrated power company.
