Rs 18,700 crore order book: This multibagger power company bags new order worth Rs 418,00,00,000 with NTPC Ltd β know more here!
The stock gave multibagger returns of over 345 per cent in just 3 years whereas BSE Sensex Index is up by 51.9 per cent.
Indian stock markets closed lower on Monday, December 18, 2023. The BSE Sensex Index was down by 0.24 per cent to 70,315 and the NSE Nifty-50 Index was down by 0.18 per cent to 21,419.
Though the market was in red, shares of Tata Power Ltd gained 2.13 to an intraday high of Rs 340.30 per share from its previous closing of Rs 333.20. At the closing bell, shares of the company were trading at Rs 336.70 per share, up 1.05 per cent.
In a significant boost to India's clean energy ambitions, Tata Power Solar has secured a major contract to supply 152 MWp of domestically manufactured solar modules for NTPC's expansive Nokh Solar Park in Rajasthan. This Rs 418 crore deal underscores Tata Power's commitment to sustainable development, as the advanced Bi-Facial Mono-PERC panels will be produced entirely within India, adhering to strict domestic content requirements. This project not only strengthens Tata Power's impressive portfolio, exceeding 12.5 GWp of ground-mount utility systems but also marks a crucial step towards India's renewable energy goals.
Earlier, Tata Power joined forces with Dr Abhay Firodia Group in a landmark 25-year deal to deliver clean energy for Force Motors and Jaya Hind Industries, powering green industrial growth with a 13.2 MW solar plant in Maharashtra, reducing carbon emissions by 21,200 tons annually and paving the way for a sustainable future in Indian industry.
Tata Power is gearing up for a monumental four-year capex blitz of Rs 60,000 crore, strategically targeting diverse energy sectors to fuel its growth and meet soaring electricity needs. Nearly half, a whopping Rs 27,000 crore, will be poured into renewable energy projects, showcasing the company's unwavering commitment to clean energy and a sustainable future. Additionally, a flexible Rs 12,000 crore capex allocation hinges on potential wins in transmission and distribution circles. With a robust order book of Rs 18,200 crore and a total capacity of 4,391 MW, Tata Power is poised for an electrifying future.
Tata Power Company Ltd is primarily involved in the business of the generation, transmission and distribution of electricity. The company has a market cap of over Rs 1 lakh crore. The stock gave multibagger returns of over 345 per cent in just 3 years whereas BSE Sensex Index is up by 51.9 per cent, BSE Power Index is up by 177.9 per cent and BSE Utilities Index is up by 160.4 per cent. Investors should keep an eye on this Large-Cap power stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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