This Tata Group stock in the business of generation, transmission, and electricity distribution and produces electricity through renewable, rose upto 3 percent upon signing MoU for Battery Energy Storage System opportunities with ONGC.
Price Movement
In Thursday’s trading session, Tata Power Company Ltd‘s share price touched a day’s high of Rs. 357.45, which was up by 2.64 percent. The share price reiterated from the day’s high and was trading at Rs. 349.55, which is 0.37 percent higher than the previous closing price of Rs. 348.25. In the past year, the stock has delivered a negative return of around 4 percent and has underperformed the Nifty Index.
What happened
The company’s stock was in focus after Tata Power’s subsidiary Tata Power Renewable Energy Limited (TPREL) signed a Memorandum of Understanding (MoU) with Oil and Natural Gas Corporation Limited (ONGC) to explore joint opportunities in the Battery Energy Storage System (BESS) and its value chain.
The MoU was signed in the India Energy Week 2025 event with the presence of Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, Chairman and CEO of ONGC, Arun Kumar Singh and CEO and MD of TPREL, Deepesh Nanda, and others.
This partnership is to explore and identify commercial opportunities in the BESS segments such as utility-scale segment, renewable energy, grid stabilization services, hybrid energy solutions, microgrids, industrial and commercial storage solutions, electric vehicle infrastructure, backup power, and trading energy through ancillary services.
Management Commentary
Commenting on the MoU, the CEO & MD of TPREL, Deepesh Nanda said “This partnership with ONGC marks a significant milestone in our journey to drive India’s energy transition. Battery Energy Storage Systems will play a crucial role in strengthening grid reliability, enabling greater renewable energy integration, and supporting India’s ambitious clean energy goals. Together, we aim to develop innovative storage solutions that will pave the way for a sustainable and resilient energy future”.
Further, the Chairman & CEO of ONGC, Arun Kumar Singh said “As India transitions towards a sustainable energy future, ONGC remains steadfast in its commitment to advancing clean energy initiatives. This collaboration with Tata Power Renewable Energy Limited represents a strategic step towards strengthening energy storage capabilities, which are vital for grid stability and renewable energy adoption. By leveraging our collective expertise, we aim to contribute meaningfully to India’s energy transition and long-term energy security.”
Financials Overview
Their Q3FY25 results show revenue from operations of Rs. 15,391 crore which increased by 5.05 percent year on year, from Rs. 14,651 crore in Q3FY24. Their net profit increased by 10.40 percent year on year, from Rs. 1,076 crores in Q3FY24 to Rs. 1,188 crores in Q3FY25.
Recent Development by TPREL
Tata Power’s subsidiary recently saw success in commissioning India’s largest Solar and Battery Energy Storage System (BESS) project, a 100 MW Solar PV Plant with a 120 MWh Utility Scale BESS in Rajnandgaon, Chhattisgarh.
Revenue Segments
The company has earned its revenue from the Generation segment which contributed around 30.76 percent, Renewables contributed 13.26 percent, Transmission and Distribution contribution stood at 55.29 percent and the remaining 0.67 percent from others as of December 2024 quarter.
About the company
Tata Power Company Limited is a part of the Tata Group. They lead in integrated power utilities in India while focusing on renewable energy generation and solutions across the power value chain.
Written by Santhosh S
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