The stock dipped further to a low of Rs 1,275 - down 3.5% from the days high. However, it receovered its losses and ended flat at Rs 1,311. Around 52,212 shares changed hands at the counter on the BSE today.
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(Updated at 1043 hrs)
Tata Power has slipped in early trades on the back of announcement that they will not import coal-based UMPPs right now.
The stock opened at Rs 1,295 and touched a high of Rs 1,305. Thereafter, the stock dipped 1.2% to touch a low of Rs 1,289. It is now trading near its low at Rs 1,289. Around 5,016 shares have been traded on the BSE so far.
The company announced that they would not bid for imported coal-based Ultra Mega Power Projects (UMPPs) and will wait till the policy environment becomes more favourable. The company plans to increase its installed power generation capacity to 8,000 Mw by 2012 frm the current 2,700 Mw.
