The stock slipped 3% from the day's high of Rs 316 and touched a low of Rs 306. The stock finally ended flat at Rs 307. Around 122,844 shares were traded on the BSE today.
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(Updated at 1017 hrs)
Torrent Power has shot up on the BSE after announcing plans to develop a coal-based power project at Amreli. The company is trading at its day's high of Rs 315, higher by Rs 6 or 2%, on the BSE.
Torrent Power and Gujarat Power Corporation Ltd. (GPCL) have signed a Share Holders Agreement (SHA) for developing the Amreli plant with an overall capacity to generate 2,000 Mw in a phased manner.
GPCL is a nodal agency set up by the state government to promote power projects in the state.
This project will involve an investment of about Rs 4500 crore for setting up 1,000 Mw in the first phase.
