Torrent Power rises on inking SPA to acquire 100% stake in Solapur Transmission
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Torrent Power is currently trading at Rs. 1221.60, up by 2.40 points or 0.20% from its previous closing of Rs. 1219.20 on the BSE.
The scrip opened at Rs. 1243.00 and has touched a high and low of Rs. 1255.00 and Rs. 1217.40 respectively. So far 19832 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1288.45 on 11-Mar-2024 and a 52 week low of Rs. 485.00 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1280.00 and Rs. 1116.55 respectively. The current market cap of the company is Rs. 58918.81 crore.
The promoters holding in the company stood at 53.57%, while Institutions and Non-Institutions held 29.22% and 17.22% respectively.
Torrent Power has entered into Share Purchase Agreement (SPA) for acquisition of 100% Equity Share Capital of the Solapur Transmission (SPV) from the PFC Consulting on March 20, 2024. This acquisition supports the company’s focus area of Transmission business. Solapur Transmission has to establish Transmission System for Evacuation of Power from RE Projects in Solapur (1500 MW) SEZ in Maharashtra.
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.
