COMPANIES

No Data Found

NEWS

No Data Found
Advertisement
Tata Power arm bags 400 MW project in Maharashtra; stock trading flat 

Tata Power arm bags 400 MW project in Maharashtra; stock trading flat 

Tata Power share price today: The power sector stock has gained 35% in 2024 and risen 67.38% in a year.

Aseem Thapliyal
Aseem Thapliyal
  • Updated Sep 18, 2024 1:11 PM IST
Tata Power arm bags 400 MW project in Maharashtra; stock trading flat Tata Power shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Shares of Tata Power were trading on a flat note in the afternoon session today even as the Tata Group firm said its subsidiary 
Tata Power Renewable Energy Limited (TPREL) has successfully secured a Letter of Award (LoA) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL), a wholly owned entity under the Maharashtra Government, for the development of a 400 MW Wind-Solar Hybrid project in Maharashtra. 

Advertisement

Related Articles

Tata Power stock was trading on a flat note at Rs 445.55 today against the previous close of Rs 445.05. Market cap of Tata Power stood at Rs 1.42 lakh crore mark on BSE. A total of 1.53 lakh shares of the firm changed hands amounting to a turnover of Rs 6.81 crore. Tata Power stock fell to a 52-week low of Rs 230.75 on October 26, 2023 and hit a record high of Rs 470.85 on August 2, 2024. 

The power sector stock has gained 35% in 2024 and risen 67.38% in a year.

In terms of technicals, the relative strength index (RSI) of Tata Power stock stands at 59.7, signaling the stock is trading neither in the oversold nor in the overbought zone. Tata Power shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Advertisement

"The LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW, making this the largest renewable energy project in state of Maharashtra till date for TPREL," said Tata Power. 

"The project is expected to be completed within 24 months from signing of the Power Purchase Agreement (PPA) between TPREL and MSEDCL and will play a crucial role in cutting carbon emissions, with an estimated reduction of 895 million kilograms of CO2 annually," it added.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Sep 18, 2024 1:11 PM IST
    Post a comment0