Tata Power Company rose 1.25% to Rs 67.20 at 11:15 IST on BSE after the company said that it has launched special air conditioner exchange programme in Mumbai to promote energy efficiency under its 'Be Green' initiative.
The company made announcement after market hours yesterday, 26 November 2015.
Meanwhile, the BSE Sensex was up 155.13 points, or 0.62%, to 26,119.24.
On BSE, so far 1.23 lakh shares were traded in the counter, compared with an average volume of 3.72 lakh shares in the past one quarter.
The stock hit a high of Rs 67.30 and a low of Rs 66.45 so far during the day. The stock hit a 52-week high of Rs 93.65 on 28 November 2014. The stock hit a 52-week low of Rs 55.55 on 7 September 2015.
The stock had underperformed the market over the past one month till 26 November 2015, declining 5.95% compared with 5.13% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 10.22% as against Sensex's 0.95% rise.
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The large-cap company has an equity capital of Rs 270.46 crore. Face value per share is Re 1.
Tata Power Company said that it has launched 'Energy Efficient 5 Star Split AC New Purchase and Exchange Program' to allow consumers to exchange their inefficient electrical appliances for energy efficient appliances and motivate them to associate with and contribute to ensuring a greener and sustainable planet in a more integrated fashion. Under this scheme, Tata Power consumers may purchase a new BEE 5-star rated split air conditioner (AC) or exchange their non-star ACs for BEE 5-star rated split ACs and avail a discount of up to 50% on maximum retail price (MRP) for various models of branded ACs up to 1 ton, 1.5 ton capacity. Initiated by Tata Power in partnership with Godrej, the program offers attractive discounts, newer advanced AC models and energy efficient invertor technology-based AC models. The offer price of the energy efficient 5 star split AC Program includes machine cost, taxes, duties, standard installation charges and buyback of an old AC, which will be scrapped in an eco-friendly manner, the company added.
As part of the 'Be Green' initiative to promote the use of energy efficient appliances, the programme aims at unifying consumers in the green movement. The programme has been designed with the objective of helping consumers save energy without compromising on their comfort and manage the increased power demand in Mumbai.
Tata Power reported a consolidated net profit of Rs 247.31 crore in Q2 September 2015, compared with net loss of Rs 77.75 crore in Q2 September 2014. Net sales rose 10.6% to Rs 9462.92 crore in Q2 September 2015 over Q2 September 2014.
Tata Power is India's largest integrated power company with a significant international presence. The company has presence in all the segments of the power sector viz generation (thermal, hydro, solar and wind), transmission, distribution and trading.
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