Tata Power climbs as its arm signs Group Captive Power Delivery Agreement with ANAND Group

Tata Power Company is currently trading at Rs. 247.70, up by 2.70 points or 1.10 % from its previous closing of Rs. 245.00 on the BSE.

The scrip opened at Rs. 245.00 and has touched a high and low of Rs. 248.40 and Rs. 245.00 respectively. So far 265399 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 252.75 on 24-Aug-2023 and a 52 week low of Rs. 182.45 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 252.75 and Rs. 239.60 respectively. The current market cap of the company is Rs. 79244.42 crore.

The promoters holding in the company stood at 46.86 % while Institutions and Non-Institutions held 24.66 % and 28.47 % respectively.

Tata Power Company’s subsidiary — Tata Power Renewable Energy (TPREL) has signed a Group Captive Power Delivery Agreement (PDA) for 4.4 MW AC with the ANAND Group, a global automotive systems and parts industry leader.

Under this agreement, TPREL will facilitate the generation of 10 million units of clean energy through renewable sources. The project is expected to eliminate 5500 tonnes of carbon emissions annually, aligning with TPREL’s mission to create a greener and cleaner future for its Commercial and Industrial (C & I) customers. By leveraging the power of renewable energy sources with sustainability-focused Groups such as ANAND, Tata Power aims to set a precedent for other organizations to follow suit and invest in eco-friendly energy solutions.

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