Tata Power rose 0.81% to Rs 99 at 9:30 IST on BSE after the company announced the synchronisation of the 800 megawatts Unit No 5 of the country's first Ultra Mega Power project in Mundra, Gujarat.
The announcement was made after market hours on Wednesday, 6 March 2013.
Meanwhile, the BSE Sensex was down 7.49 points, or 0.04%, to 19,245.12.
On BSE, 40,300 shares were traded in the counter as against an average daily volume of 4.39 lakh shares in the past one quarter.
The stock hit a high of Rs 99.75 and a low of Rs 98.65 so far during the day. The stock had hit a 52-week high of Rs 114.60 on 6 March 2012. The stock had hit a 52-week low of Rs 83 on 10 April 2012.
The stock had outperformed the market over the past one month till 6 March 2013, falling 0.76% compared with the Sensex's 1.97% fall. The scrip had, however, underperformed the market in past one quarter, sliding 9.70% as against Sensex's 1.20% fall.
The large-cap power generation company has an equity capital of Rs 237.31 crore. Face value per share is Re 1.
Tata Power, through its wholly-owned subsidiary Coastal Gujarat Power, on Wednesday, 6 March 2013, announced the synchronisation of the 800 megawattts (MW) Unit No 5 of the country's first Ultra Mega Power Project (UMPP) in Mundra, Gujarat. With the synchronisation of Unit No 5, the thermal power generation capacity of Tata Power stands at 8,500 MW and the generation through clean sources such as hydro, wind and solar stands at 852 MW.
Speaking on this milestone, Anil Sardana, managing director, Tata Power, said, "The synchronisation of Unit No 5 of Mundra UMPP marks a milestone in India's history as the first UMPP setting an execution excellence benchmark for the Indian power sector. The synchronisation of the last unit is a significant achievement in a sector which is ridden with numerous challenges. The Mundra UMPP features a number of new and advanced technological initiatives based on super-critical technology. We eagerly await a viable solution by the CERC and look forward to an early resolution of this issue."
The 4,000 MW Mundra UMPP is the first of the UMPPs that heralds the entry of 800 MW super-critical boiler technology in India, which is environment-friendly and efficient, Tata Power said in a statement. This technology and the choice of unit sizes will help save fuel for the project and cut down greenhouse gas emissions as compared to regular coal-fired power stations, Tata Power said. In addition, the choice of imported coal significantly lowers sulphur emissions. The plant will use significantly less than the stipulated 1% sulphur and 10% ash content in coal, Tata Power said in a statement.
Coastal Gujarat Project (CGPL) is a Special Purpose Vehicle (SPV) formed for setting up and operating the 4000 MW Mundra UMPP. CGPL has signed a Power Purchase Agreement (PPA) with seven procurers (distribution licensees) from five states i.e. Gujarat, Maharashtra, Haryana, Rajasthan and Punjab for the sale of contracted capacity. The Mundra Power Project, India's first UMPP is progressing well. Unit 1, 2, 3 and 4 have been commissioned and Unit 5 has been synchronized.
Tata Power Company reported consolidated net loss of Rs 328.92 crore for Q3 December 2012, as against net profit of Rs 297.95 crore in Q3 December 2011. Total income rose 27.18% at Rs 9050.33 crore in Q3 December 2012 over Q3 December 2011.
Tata Power is India's largest integrated power company with a significant international presence. The company has an installed generation capacity of 8500 MW in India and a presence in all the segments of the power sector viz Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. It has successful public-private partnerships in Generation, Transmission and Distribution in India.
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