Mumbai, September 24 (Udaipur Kiran News): Shares of Torrent Power traded higher on Wednesday after the company announced acquisition of stakes in Newzone India (NZIPL) and its holding company Newzone Power Projects (NZPPPL) for around Rs 211 crore. The stock was quoting at Rs 1,282.35, up 0.25% from its previous close of Rs 1,279.20 on the BSE.
The counter opened at Rs 1,290.00 and touched an intraday high of Rs 1,290.05 and a low of Rs 1,272.20. A total of 7,788 shares were traded during the session. The company’s market capitalisation currently stands at Rs 64,353.52 crore.
Over the past year, the scrip has touched a 52-week high of Rs 2,037.35 (October 22, 2024) and a 52-week low of Rs 1,207.20 (February 17, 2025). On a weekly basis, it has moved between Rs 1,296.30 and Rs 1,259.30.
As per the shareholding pattern, promoters hold 51.09%, institutions 39.57%, and non-institutional investors 9.34%.
Torrent Power has acquired 11,95,110 equity shares of NZIPL and 30,00,000 equity shares of NZPPPL (both of face value Rs 10 each). With this deal, it now owns 100% of NZPPPL and 49% of NZIPL.
The acquisition is aimed at implementing a thermal power project on land held by NZIPL in Anuppur district, Madhya Pradesh.
Torrent Power is an integrated utility with businesses spanning power generation, transmission, and distribution, with operations across Gujarat, Maharashtra, and Uttar Pradesh.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.