Tata Power rises on investing Rs 4,245 crore in infrastructure expansion, network upgrade in Odisha
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Tata Power Company is currently trading at Rs. 437.00, up by 2.95 points or 0.68% from its previous closing of Rs. 434.05 on the BSE.
The scrip opened at Rs. 435.90 and has touched a high and low of Rs. 437.50 and Rs. 431.00 respectively. So far 455683 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 464.30 on 03-May-2024 and a 52 week low of Rs. 216.95 on 21-Jul-2023.
Last one week high and low of the scrip stood at Rs. 444.50 and Rs. 426.90 respectively. The current market cap of the company is Rs. 138965.32 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 25.23% and 27.90% respectively.
Tata Power-led power distribution companies (Discoms) have invested Rs 4,245 crore in infrastructure expansion and network upgrade in Odisha over the past 3-4 years. The company operates four Discoms in joint ventures with the government of Odisha - TP Central Odisha Distribution (TPCODL), TP Western Odisha Distribution (TPWODL), TP Southern Odisha Distribution (TPSODL), and TP Northern Odisha Distribution (TPNODL), collectively serving a customer base of over 9 million.
Of the total investment, Rs 1,232 crore has been allocated through various government-backed schemes. This includes laying 2,177 circuit kilometres (Ckms) of 33 kilovolt (KV) lines and 19,809 Ckms of 11 KV lines, as well as adding 30,230 distribution transformers to improve the distribution network's reliability across rural and urban areas.
Additionally, the company has commissioned 166 new primary substations (PSS), with 55 per cent of them being automated. These efforts have led to an average of 23.68 hours of power supply per day in urban areas and 21.98 hours in rural areas, exceeding national averages. Furthermore, the network improvements have contributed to a reduction in Aggregate Transmission and Distribution (AT&C) losses, averaging 17.79 per cent in Odisha during the financial year 2023-24.
Tata Power Company is India’s largest integrated power company.
