Torrent Power surges on lining up investments of over Rs 64,000 crore for green projects
Torrent Power is currently trading at Rs. 1772.00, up by 9.15 points or 0.52% from its previous closing of Rs. 1762.85 on the BSE.
The scrip opened at Rs. 1763.90 and has touched a high and low of Rs. 1797.50 and Rs. 1747.85 respectively. So far 5658 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1906.55 on 31-Jul-2024 and a 52 week low of Rs. 692.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 1797.50 and Rs. 1660.00 respectively. The current market cap of the company is Rs. 85165.29 crore.
The promoters holding in the company stood at 53.57%, while Institutions and Non-Institutions held 29.42% and 17.01% respectively.
Torrent Power has reaffirmed its commitment towards green and sustainable future as it submitted two Shapath Patras to the Union Ministry of New and Renewable Energy, Government of India at the 4th Edition of RE-Invest at Gandhinagar.
The Company has submitted a ‘Shapath Patra’ to achieve 10 Gigawatt (GW) of installed Renewable Energy (RE) capacity by 2030, with an investment of Rs 57,000 crore.
This investment is expected to generate direct and indirect employment for around 25,000 people. As part of these commitments, Torrent Power signed a Memorandum of Understanding (MoU) with Government of Gujarat for execution of 5 GW solar, wind or solar-wind hybrid project at Dwarka District in the State of Gujarat.
The second ‘Shapath Patra’ was submitted for setting up 1,00,000 Kilo Tonnes Per Annum (KTPA) Green Ammonia production facility with an investment of Rs 7,200 crore and employment generation for around 1,000 people.
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.