Tata Power surges as its arm signs MoU with Discoms of Rajasthan
Tata Power is currently trading at Rs. 372.05, up by 7.80 points or 2.14% from its previous closing of Rs. 364.25 on the BSE.
The scrip opened at Rs. 368.85 and has touched a high and low of Rs. 373.15 and Rs. 364.30 respectively. So far 159161 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. 338.50 on 13-Jan-2025.
Last one week high and low of the scrip stood at Rs. 373.90 and Rs. 343.35 respectively. The current market cap of the company is Rs. 119010.42 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 Discoms of Rajasthan, including Jaipur Vidyut Vitran Nigam (JVVNL), Ajmer Vidyut Vitran Nigam (AVVNL), and Jodhpur Vidyut Vitran Nigam (JDVVNL). This strategic partnership aims to drive the adoption of renewable energy and energy conservation across Rajasthan, particularly through the promotion of the Pradhan Mantri Surya Ghar: Muft Bijali Yogna (PMSG:MBY) in residential sectors.
The MoU outlines key initiatives to accelerate rooftop solar adoption across Rajasthan. TPREL and the Rajasthan Discoms will collaborate on joint campaigns to promote solar energy, particularly the Pradhan Mantri Surya Ghar; Muft Bijali Yogna, helping residential customers access clean, affordable energy. Initial efforts will focus on cities like Jaipur, Udaipur, Jodhpur, Kota, and Bikaner, with plans to expand statewide. The partnership also includes exclusive pricing and vendor training to ensure quick, efficient solar installations, further driving renewable energy adoption. This MoU represents a major step toward accelerating the adoption of renewable energy in Rajasthan, reinforcing TPREL's commitment to leveraging its resources and expertise to help Rajasthan achieve its renewable energy goals.
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.
