22-09-2023 04:10 PM | Source: Accord Fintech
Tata Power trades higher as its arm inks pact with Dugar Power

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Tata Power Company is currently trading at Rs. 257.65, up by 1.10 points or 0.43% from its previous closing of Rs. 256.55 on the BSE.

The scrip opened at Rs. 256.60 and has touched a high and low of Rs. 259.00 and Rs. 254.35 respectively. So far 306830 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. 267.00 and Rs. 254.35 respectively. The current market cap of the company is Rs. 82343.90 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 subsidiary -- Tata Power Renewable Energy (TPREL) has signed an agreement with Dugar Power, a subsidiary of Dugar Group which is a prominent business house in Nepal. This tie up heralds TPREL's strategic entry into Nepal's rapidly evolving renewable energy sector and sets the stage for a quantum leap in accelerating Nepal's shift toward sustainable energy.

This alliance empowers Dugar Power to achieve a significant milestone in integrating cutting-edge sustainable energy solutions within Nepal. The partnership is set to deploy transformative solar technologies to produce a range of on and off-grid energy solutions.

Engineered for adaptability, this collaboration marks the inception of a long-term commitment to energy sustainability in the region. The agreement is designed to cater to Nepal's diverse energy requirements, offering scalable solutions from 1 KW to MW levels. This opens up new horizons for TPREL to diversify its offerings, including supply cells & modules, Engineering, Procurement and Construction (EPC), as well as Operations and Maintenance (O&M) in Nepal.

Tata Power Company is India’s largest integrated power company.