Tata Power shares in focus as subsidiary wins Rs 418-crore order for NTPC project

Shares of Tata Power Co Ltd are in focus today after the Tata Group firm’s arm Tata Power Solar Systems won a Rs 418 crore order to supply 152 MWp solar PV modules for an NTPC project at Nokh in Rajasthan.

The stock ended 0.63% lower at Rs 333.20 on Friday. tatapower-share-price-362817">Tata Power stock hit a 52 week high of Rs 341.30 on December 14, 2023 and a 52 week low of Rs 182.45 on March 28, 2023. The Tata Group stock has gained 51% in the last six months. Tata Power stock has risen 50.16% in a year and climbed 57.36% this year. The stock has seen very less volatility in a year with a beta of 0.3.

In terms of technicals, the relative strength index (RSI) of the stock stands at 78.6, signaling the stock is overbought on technical charts. Tata Power shares stand higher than the 5 day, 20 day, 30 day, 50 day, 100 day, 200 day moving averages.

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Total 10.21 lakh shares of the firm changed hands amounting to a turnover of Rs 34.13 crore on BSE. Market cap of Tata Power fell to Rs 1.06 lakh crore.

Tata Power Solar Systems Ltd (TPSSL) has inked a contract to supply 152 MWp solar PV modules for NTPC’s Nokh Solar PV Project in Rajasthan, the company said.

NTPC is developing 3×245 MW (735 MW) Nokh Solar Park at Pokhran, Jaisalmer, Rajasthan. The TPSSL’s solar cell and module manufacturing plant in Bengaluru will supply 152 MWp DCR Solar PV Modules for this project.

Tata Power reported a 8.79% year-on-year (YoY) growth in its consolidated net profit for the July-September 2023 quarter to Rs 1,017.41 crore against a net profit of Rs 935.18 crore in the year-ago period Revenue for the period under review rose 9% to Rs 15,442 crore.

The company attributed its growth in revenue and profits to its “healthy balance sheet, operational excellence, and synergies across all business clusters".

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