Tata Power trades higher as its arm inks power delivery agreement with Tata Communications
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Tata Power is currently trading at Rs. 377.00, up by 3.50 points or 0.94% from its previous closing of Rs. 373.50 on the BSE.
The scrip opened at Rs. 376.75 and has touched a high and low of Rs. 380.75 and Rs. 375.30 respectively. So far 327743 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. 412.75 and Rs. 354.65 respectively. The current market cap of the company is Rs. 120624.07 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 Company’s subsidiary -- Tata Power Renewable Energy (TPREL) has signed a power delivery agreement with Tata Communications, a leading communications technology (commtech) player, for an 18.75 MW AC group captive solar power plant. The project, facilitated through a special purpose vehicle (SPV) - Nivade Windfarm - has acquired an estimated order value of Rs 105 crore. Located in Aachegaon, Maharashtra, the plant is projected to generate around 40 MUs of power while offsetting more than 30,000 tonnes of CO2 emissions annually.
With the addition, the total renewables capacity of TPREL reached 9,015 MW (PPA capacity is 7,629 MW), including 4,744 MW of projects in different phases of development. The company has operating capacity of 4,271 MW, including 3,244 MW in solar projects and 1,027 MW in wind projects.
Tata Power Company is India’s largest integrated power company.
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