The share of this Large-cap company gained up to 2 percent after the company crossed a significant milestone of 1.4 GW capacity of Group Captive projects.
With a market capitalization of Rs 84,037.43 crores, Tata Power Co Ltd. On Tuesday, the shares were trading at Rs 263.10 a share, an increase of 0.86 percent from the previous close price.
In the last seven months, group captive projects in the capacity of 1.4 GW have been exceeded, according to an exchange filing by Tata Power Renewable Energy Ltd (TPREL), a subsidiary of The Tata Power Company Ltd and one of the major players in the Indian renewable energy market. This achievement is the result of the signing of power delivery agreements (PDA) with various industries across segments.
TPREL’s total renewables capacity as of October 23 was 7,961 MW, which includes 3,755 MW of projects in various stages of development and an additional 41 MW of captive solar plants for Tata Power’s upcoming 4.3GW Solar cell & module manufacturing facility in Tamil Nadu. Together with these group captive projects operating capacity of 4,206 MW, of which 1,006 MW is from wind and 3,200 MW is from solar projects.
Looking into the company’s finances, Tata Power Co Ltd.’s revenue increased by 12.16 percent from Rs 14,030.72 Crore in Q2FY23 to Rs 15,738.03 Crore in Q2FY24. During the same period, net profits increased by 169 percent from a loss of Rs 284.22 crore to a profit of Rs 765.89 crore.
The stock has delivered a return of 27.59 percent in six months and 18.83 percent in a year.
Tata Power Co Ltd’s recent shareholding pattern, The Promoters of the company own 46.86 percent while Retail shareholders own a 27.12 percent stake in the company and Foreign Institutional Investors own a 10 percent stake.
Tata Power Company Ltd. is engaged in the business of production, transmission, and distribution of energy. Its goal is to generate all of the power from renewable sources.
Written by:- Abhishek Singh
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