 "Tata Power hits 52-week high")
Tata Power hit a 52-week high of Rs 77.95 on the BSE in early morning trade after the company announced that its renewable arm Tata Power Renewable Energy has signed an agreement with Welspun Energy Private Limited to acquire its green energy portfolio for an estimated cost of Rs 9,900 crore.
The portfolio Tata has bought comprises 990 Mw of solar power projects and about 150 Mw of wind power projects. Of this, 1,000 Mw is operational and the rest in “advanced stages of execution”, Tata Power said in a statement.
The acquisition will enable the company to expand its renewables energy portfolio, it added.
At 09:27 AM, the stock was up nearly 1% at Rs 76.50 on the BSE as compared to 1% decline in S&P BSE Sensex. A combined two million shares changed hands on the counter on the BSE and NSE so far.
The portfolio Tata has bought comprises 990 Mw of solar power projects and about 150 Mw of wind power projects. Of this, 1,000 Mw is operational and the rest in “advanced stages of execution”, Tata Power said in a statement.
The acquisition will enable the company to expand its renewables energy portfolio, it added.
At 09:27 AM, the stock was up nearly 1% at Rs 76.50 on the BSE as compared to 1% decline in S&P BSE Sensex. A combined two million shares changed hands on the counter on the BSE and NSE so far.