Torrent Power rises on acquiring stakes in NZIPL, NZPPPL
Torrent Power is currently trading at Rs. 1282.35, up by 3.15 points or 0.25% from its previous closing of Rs. 1279.20 on the BSE.
The scrip opened at Rs. 1290.00 and has touched a high and low of Rs. 1290.05 and Rs. 1272.20 respectively. So far 7788 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. 1296.30 and Rs. 1259.30 respectively. The current market cap of the company is Rs. 64353.52 crore.
The promoters holding in the company stood at 51.09%, while Institutions and Non-Institutions held 39.57% and 9.34% respectively.
Torrent Power has acquired stakes in Newzone India (NZIPL) and its holding company Newzone Power Projects (NZPPPL) for around Rs 211 crore. NZPPPL is the holding company of NZIPL.
It has acquired 11,95,110 equity shares of NZIPL and 30,00,000 equity shares of NZPPPL of face value of Rs 10 each. With this move, it has acquired 100 per cent Equity Share capital of NZPPPL and 49 per cent of NZIPL from the seller. The acquisition has been made with the objective of implementing the thermal power project on the land in the possession of the NZIPL in the Annupur District of Madhya Pradesh.
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.
