Tata Power shares in focus today as firm buys Bikaner Transmission project

tata power shares in focus today as firm buys bikaner transmission project

Tata Power shares in focus today as firm buys Bikaner Transmission project

Shares of Tata Power Co Ltd are in focus today after the Tata Group firm said that it has won a bid to acquire Bikaner-III Neemrana-II Transmission renewable energy project for about Rs 1,544 crore. The stock ended 2.91% higher at Rs 275.75 on Friday. Tata Power stock hit a 52 week high of Rs 278.50, rising 3.93% in the morning session. The Tata Group stock has gained 28.11% in the last six months. Tata Power stock has risen 22.45% in a year and climbed 30.22% 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 67.6, signaling the stock is neither overbought nor oversold on technical charts. Tata Power shares stand higher than the 5 day, 20 day, 30 day, 50 day, 100 day, 200 day moving averages.

Total 38.45 lakh shares of the firm changed hands amounting to a turnover of Rs 105.85 crore on BSE. Market cap of the firm rose to Rs 88,111 crore.

The energy project is of a special purpose vehicle (SPV) set up by PFC Consulting Limited, a subsidiary of Power Finance Corporation. A special purpose vehicle (SPV), also called a special purpose entity (SPE), is a subsidiary created by a parent company to isolate its financial risks.

The transmission project, to be undertaken on a Build-Own-Operate-Transfer (BOOT) basis, is poised to facilitate the evacuation of 7.7 gigawatts (GW) of renewable energy from the Bikaner Complex in Rajasthan. “The project entails the establishment of a 340 kilometers transmission corridor from Bikaner-III pooling station to Neemrana II substation,” the company said in an exchange filing.

   

Watch Live TV in English

Watch Live TV in Hindi

News Related

OTHER NEWS

Aliw Awards nominations out

ALIW Awards Foundation Inc. President Alice H. Reyes has released the names of finalists for the 2023 Aliw Awards to be presented on Dec. 11, 2023, at the Manila Hotel ... Read more »

WhatsApp Web gains the feature of single-view photos and videos

WhatsApp Web gains the feature of single-view photos and videos (Photo: Unsplash) The WhatsApp Web, the desktop version of the popular messaging app from Meta, has received an update allowing ... Read more »

Young athletes’ time to shine in Siklab Awards

Young athletes’ time to shine in Siklab Awards MANILA, Philippines — The future heroes of Philippine sports will be honored during the third Siklab Youth Sports Awards on Dec. 4 ... Read more »

Local exec says 5-10 barangays still isolated in Northern Samar

Graphics by Jannielyn Ann Bigtas A local government official said Monday that five to 10 barangays in Northern Samar are still isolated following the massive flooding in the area last ... Read more »

App made by ex-jeepney driver will let you pay PUV fare, book tricycles

DyipPay app lets you pay jeepney fare, book tricycles “Barya lang po sa umaga.” Everyone who rides jeepneys knows this rule: it may not be an actual law, but it’s ... Read more »

Updated In-Season Tournament Bracket ahead of pool play finale

Updated In-Season Tournament Bracket ahead of pool play finale Tuesday will mark the last day of pool play for the inaugural NBA In-Season Tournament. From there, six first-place teams and ... Read more »

PCG forms teams for maritime emergency response

PCG forms teams for maritime emergency response MANILA, Philippines — Recent incidents of fishermen lost in the waters off Southern Tagalog have prompted the Philippine Coast Guard (PCG) to form ... Read more »
Top List in the World