Wednesday 5 February 2014

Tata Power soars on plan to invest Rs 1,500 crore in renewables energy

Tata Power Company is currently trading at Rs. 73.30, up by 0.60 points or 0.83 % from its previous closing of Rs. 72.70 on the BSE.

The scrip opened at Rs. 72.95 and has touched a high and low of Rs. 73.50 and Rs. 72.15 respectively. So far 127445 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 102.45 on 15-Mar-2013 and a 52 week low of Rs. 68.25 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 76.60 and Rs. 71.45 respectively. The current market cap of the company is Rs. 17394.62 crore.

The promoters holding in the company stood at 32.47 % while Institutions and Non-Institutions held 48.56 % and 15.78 % respectively.

Tata Power, India’s largest integrated power company is reportedly planning to invest Rs 1,500 crore in renewable energy. The company is also planning to add as much as 150-200 megawatts of wind and 30 megawatts of solar capacity every year.

The Company’s strategy emphasizes the development of clean energy generation from renewable sources to balance the carbon emissions from fossil fuel based generation capacity while contributing towards energy security of the country. The company has also decided to house its renewable energy projects into a new special purpose vehicle. Tata Power currently has four of its renewable projects registered under the Clean Development Mechanism (CDM) program by United Nations Framework Convention on Climate Change (UNFCCC).

Tata Power is India's largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8521 MW in India and a presence in all the segments of the power sector viz. Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

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