Torrent Power gains as its arm secures 300 MW wind power project from SECI
Torrent Power is currently trading at Rs. 1419.00, up by 19.55 points or 1.40% from its previous closing of Rs. 1399.45 on the BSE.
The scrip opened at Rs. 1399.45 and has touched a high and low of Rs. 1419.00 and Rs. 1391.45 respectively. So far 46449 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2037.35 on 22-Oct-2024 and a 52 week low of Rs. 1207.20 on 17-Feb-2025.
Last one week high and low of the scrip stood at Rs. 1466.70 and Rs. 1391.45 respectively. The current market cap of the company is Rs. 71350.22 crore.
The promoters holding in the company stood at 51.09%, while Institutions and Non-Institutions held 39.68% and 9.24% respectively.
Torrent Power’s a wholly owned subsidiary -- Torrent Green Energy has emerged as successful bidder under competitive bidding and has received letter of award from Solar Energy Corporation of India (SECI) for setting up of 300 MW wind power project under Wind Tranche-XVIII. The project, with a tariff of Rs 3.97 per unit is to be commissioned within 24 months from the date of execution of the PPA, with an estimated investment of about Rs 2,650 crore.
The company has strategically focused on renewables as a growth driver. With this project, the company’s renewable capacity under development increases to 3.3 GWp. Aligning with its sustainability commitments and the government’s target of achieving 500 GW of non-fossil fuel capacity by 2030, the company continues to expand its Renewable portfolio. In addition to a balanced wind and solar portfolio, it is also working on other green energy pathways of Pumped Hydro and Green Hydrogen.
Torrent Power is an integrated utility engaged in the business of power generation, transmission and distribution with operations in the states of Gujarat, Maharashtra and Uttar Pradesh.
