Page 2 - Tata Power

Life Insurance Corp sells 2.02% stake in Tata Power for Rs 2,888 crore

Life Insurance Corporation (LIC) on Tuesday said it has sold more than 2.02 per cent stake in Tata Power Company for about Rs 2,888 crore and reduced its holding in the company to 3.88 per cent. In a regulatory filing, LIC said the insurance behemoth has decreased its shareholding in Tata Power Company Ltd from 18,87,06,367 to 12,39,91,097, that is, 5.906 per cent to 3.881 per cent of the paid-up capital of the company. The shares were sold between June 20, 2024, and November 11, 2024, at an average price of Rs 446.402 apiece through an open market sale. At this price, LIC sold over 6.47 crore shares, or a 2.025 per cent stake, for Rs 2,888 crore. Shares of LIC closed at Rs 921.45 apiece, up 0.32 per cent over the previous close on BSE.

Tata Power partners with Noida Airport for Rs 550 cr clean energy project

Tata Power will invest Rs 550 crore to develop solar and wind power capacities and related infrastructure to supply clean energy to Noida International Airport (NIA), a statement said. Tata Power has signed two power purchase agreements with the upcoming Noida International Airport project in Uttar Pradesh. "Tata Power has entered into a strategic partnership for RE integration with Noida International Airport (NIA). Tata Power will invest Rs 550 crore (USD 66 million) in solar and wind power supply, and the development of critical dry utilities and smart energy infrastructure," the company said in a statement. Under the arrangement, Tata Power's arm Tata Power Trading Company Ltd (TPTCL) will supply 10.8 MW of wind power to the airport with secured assets from Tata Power Renewable Energy Ltd (TPREL). TPREL will also develop, operate, and maintain a 13 MW onsite solar power capacity to contribute to the airport's overall energy needs. Tata Power CEO & MD Praveer Sinha said, This .

After strong Q2, execution is key for further gains in Tata Power

The stock market reacted positively to the results and analysts are generally positive with valuation targets indicating a 15-20 per cent upside

Tata Power charges 4% post Q2 results; Should you buy, sell or hold?

Tata Power Renewable Energy estimated the impact of stamp duty related to a merger at Rs 140 crore during the quarter, which the company disclosed as an exceptional item

Stocks to Watch, Oct 31: Biocon, L&T, Tata Power, RVNL, Zydus Wellness

Stocks to Watch, October 31, 2024: L&T's revenue up 20.63 per cent at Rs 61,554 crore versus Rs 51,024 crore. Ebitda up 12.94 per cent at Rs 6,362 crore versus Rs 5,633 crore

Tata Power Q2FY25 results: Net profit rises 6% to Rs 926.53 crore

Tata Power Renewable Energy estimated the impact of stamp duty related to a merger at Rs 140 crore during the quarter, which the company disclosed as an exceptional item

Tata Power board okays Rs 5,666 crore for 1,000 MW pumped storage project

Tata Power on Wednesday said its board has approved Rs 5,666 crore investment for setting upa 1,000 MW pumped storage hydro project. The company aims to set up the project in Bhivpuri over a period of 44 months, Tata Power said in an exchange filing. On the mode of financing, the company said the 75 per cent will be debt and 25 per cent will be met through equity financing. The company's overall existing capacity stands at 15.2 GW. "Pumped Storage Hydro Project (PSP) will be instrumental in Renewable Energy Round the Clock (RE-RTC) applications, facilitating energy shifting, and contributing to the decarbonise hard to abate industries," it said.

Tata Power Q2FY25 results: Net profit rises nearly 8% to Rs 1,093 cr

Tata Power on Wednesday posted nearly 8 per cent rise in its consolidated net profit to Rs 1,093.08 crore for the September quarter, mainly on the back of higher revenues. The company had reported a net profit of Rs 1,017.41 crore in the quarter ended September 30, a BSE filing showed. Its total income rose to Rs 16,210.80 crore in the quarter from Rs 16.029.54 crore a year ago. Praveer Sinha, CEO and Managing Director, Tata Power, said, "Our Generation, Transmission & Distribution, and Renewable businesses continue to witness sustained growth momentum as India sees record power demand and investment in the new Age of Electricity". All business segments have performed remarkably well during the quarter, leading to 20th consecutive quarterly PAT (net profit) growth, he pointed out. "Aligned with the Make in India' vision, our 4.3 GW cell-and-module plant in Tamil Nadu is going strength-to-strength with the commissioning of a 2 GW cell production line during the quarter," he said, .

Q2 results today: L&T, Tata Power, P&G, Dabur among 77 to post earnings

Q2FY25 company results: Aditya Birla Capital, Protean eGov Technologies, TTK Prestige, and New India Assurance will release their second-quarter results for the financial year 2024-25 on October 30

Tata Power Renewable, IndusInd Bank partner to finance solar projects

Tata Power Renewable Energy Ltd has partnered with IndusInd Bank to offer financing options to Micro and Small Enterprises (MSEs) for solar installations. This alliance will provide MSEs with collateral-free solar financing, by offering loans ranging from Rs 10 lakh to Rs 2 crore, Tata Power Renewable Energy said in a statement on Tuesday. These loans, contingent on the bank's credit approval, require a 20 per cent margin and come with competitive interest rates, offering terms of up to 7 years, the company said. Deepesh Nanda, CEO & MD, Tata Power Renewable Energy said, "Through a partnership with IndusInd Bank, we are facilitating easy financing opportunities for MSEs (Micro and Small Enterprises) to adopt solar energy, which will not only help them reduce operational costs but also actively contribute to the green energy transition." Various public and private sector lenders are tied up with solar players to provide finance options for commercial and residential solar ...

Tata Power acquires 40% stake in Khorlochhu Hydro Power for Rs 830 cr

Tata Power on Monday said it has acquired 40 per cent stake in Bhutan-based Khorlochhu Hydro Power Limited for Rs 830 crore. "It has today executed the Share Purchase Agreement between the company, existing shareholder of KHPL and KHPL," Tata Power said in an exchange filing. On August 6, the Board of Directors of The Tata Power Company Limited approved a proposal for the acquisition of a 40 per cent equity stake in Khorlochhu Hydro Power Limited in one or more tranches. The cost for acquisition of a 40 per cent equity stake in KHPL is around Rs 830 crore, Tata Power had said. Tata Power said it has finalized an agreement with Druk Green Power Company to develop the hydro project in the neighbouring country at an estimated cost of Rs 6,900 crore.

Tata Power, Keppel team up for sustainable cooling solutions in India

The collaboration, the company added, will focus on high-demand environments such as airports, IT parks, Special Economic Zones, data centres, and other industrial and commercial properties

Tata Power firm launches programme to promote solar power in Tamil Nadu

Initiative provides subsidies to households to adopt green energy, says company

Market Close Highlights, Oct 10: Sensex adds 144 pts, Nifty nears 25,000; Banking shares shine

Stock Market Close Highlights, Oct 10, 2024: Kotak Mahindra Bank, JSW Steel, HDFC Bank, Bharat Electronics, and IndusInd Bank were among the 23 constituent stocks of the Nifty50 that ended in the gree

Tata Power seeks Rs 21,000 crore wind turbine bids for 3 GW green push

Tata Power is seeking bids for over 3 Gigawatts (GW) of wind turbines, with the possibility of increasing the capacity to 5 GW over the next five years

Tata Group stocks trade weak; Tata Power, Tata Chem, Tata Com down up to 6%

Thus far in CY24, Voltas (up 81%), Tata Investment Corporation (53%), Tejas Networks (31%), Tata Power (35%), Nelco (20%),Tata Steel (18%) and Tata Communications (13%) have outperformed the Sensex.

Tata Power to invest $14.3 billion in Rajasthan over next 10 years

Tata Power on Monday said it has inked an initial pact with the Rajasthan government for investment of Rs 1.2 lakh crore, including Rs 75,000 crore in green energy, in the state's power sector. The 10-year plan aims to support Rajasthan's transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply. Investments will be made in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging, a company statement said. The MoU was signed during the 'Rising Rajasthan' Investor Meet in New Delhi on Monday. An amount of Rs 20,000 crore will be invested in the state transmission and distribution area to modernize the grid infrastructure, reduce energy losses, and improve power quality across the state. Besides, Rs 10,000 crore will be invested for transmission systems exploring opportunities to develop nuclear power plant. Nearly Rs 75,000 crore will be for renewable energy projects.

Morgan Stanley double upgrades Tata Power, Torrent Power; check out details

Morgan Stanley has revised its stance on 6 utility stocks from Tata Power, Torrent Power to Suzlon Energy

Tata Power, Siemens among top bets by Chandan Taparia of MOFSL for today

Tata Power is trading near its all-time high price and given a range breakout on the weekly chart. The ADX indicator has turned up which supports the bullish trend.

Fire incident at Tata Power's Trombay plant; no injuries, damage reported

Tata Power on Tuesday reported about a fire incident at its Trombay plant in Maharashtra. The cause of the fire is currently under investigation, and no injuries or loss of life have been reported, the company said in an exchange filing. "...there was a fire incident in the Control Room of Unit No 5 (500 MW unit) of Trombay Plant on September 23, 2024," Tata Power said. The company said it is in the process of assessing the actual damage caused by the fire. "We also confirm that the plant is adequately insured, and the insurance firm has been duly informed," it added.