December 8, 2022
  • December 8, 2022

Tata Power’s market capitalization crosses 50,000 cr; stock up 8% to new high

By on October 1, 2021 0


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Shares of Tata Power Company continued to climb, reaching a new high at Rs 165 after 13 years, up 4% on BSE in intraday trading on Friday, on an improved outlook. The share of electric utility company Tata Group traded higher for the fourth day in a row and rose 19% during the period. The previous record was Rs 158 recorded on January 4, 2008.

In the process, Tata Power’s market capitalization (market capitalization) has crossed the Rs 50,000 crore mark. at 2:40 p.m. Tata Power was trading 3.5% higher at Rs 164.35, with a market cap of Rs 52,515.41 crore on BSE, according to exchange data.

Tata Power is one of India’s largest integrated power companies and, together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 13,061 MW. The company is present across the entire electricity value chain – renewable and conventional energy production, including hydropower and thermal power, transmission and distribution, coal and freight, logistics and trade.

Tata Power is leading the transformation as an integrated solutions provider by examining new business growth in distributed generation through rooftop solar and micro-grids, storage solutions, electric vehicle (EV) charging infrastructure , an energy services company (ESCO), home automation and smart meters.

Last month, Tata Power Solar Systems (Tata Power Solar), India’s largest solar power company, and the wholly owned subsidiary of Tata Power received an “award notice” (NoA) to build a solar power plant. 50 MWp photovoltaic with a 50 MWh battery energy storage system (BESS) at the village of Phyang in Leh, Ladakh. The value of the project order was Rs 386 crore. The commercial exploitation date of this project is set for March 2023.

While Tata Power Renewable Energy (TPREL), a wholly owned subsidiary of Tata Power, has successfully commissioned a 100 MW solar power project at Raghanesda Solar Park, Gujarat and Loharki Village, in Rajasthan, the company said in a press release.

Tata Power management said the company aims to increase our renewable energy portfolio from the current 4 GW to 15 GW by 2025 and 25 GW by 2030, reaching 80% of clean generation capacity, against 31% currently. “We will continue to develop and promote the mass adoption of rooftop solar and solar pumps, micro-grids, home automation and focus on the development of electric vehicle charging infrastructure in the country,” said said Dr Praveer Sinha, CEO and Managing Director of Tata Power. announcing June quarter (Q1) results on August 6, 2021.

Tata Power’s transition to the green segment is accelerating with a market share of nearly 40% / 10% held by its electric vehicle charging / solar EPC segments. Its solar pump / solar roof business grew 8x / 4x during the first quarter of fiscal 22 with the highest ever order book of Rs 1,100 crore of solar pumps. In addition, with the campaign to remove licenses in UTs and Selective States, the opportunity in the discom privatization space is growing gigantic, an HDFC Securities analyst said in the June quarterly earnings update. .

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