Torrent Power jumps on entering into MoU with Department of Energy & Petrochemicals
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Torrent Power is currently trading at Rs. 1062.50, up by 118.45 points or 12.55% from its previous closing of Rs. 944.05 on the BSE.
The scrip opened at Rs. 998.95 and has touched a high and low of Rs. 1071.60 and Rs. 985.25 respectively. So far 57331 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1,071.60 on 04-Dec-2023 and a 52 week low of Rs. 430.90 on 30-Jan-2023.
Last one week high and low of the scrip stood at Rs. 1071.60 and Rs. 900.95 respectively. The current market cap of the company is Rs. 45372.63 crore.
The promoters holding in the company stood at 53.57%, while Institutions and Non-Institutions held 29.26% and 17.18% respectively.
Torrent Power has entered into a Memorandum of Understanding (MoU) of Rs 47,350 crore with Department of Energy & Petrochemicals, Government of Gujarat on January 3, 2024 as part of Investment Promotion Activity for Vibrant Gujarat Global Summit 2024 for establishment of 3,450 MW of Solar Power Projects, 1,045 of Hybrid Power Projects, associated infrastructure for 7,000 MW Solar project, Green Hydrogen / Green Ammonia Production Facility and Capex for Distribution network.
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.
