The stocks of Tata Power performed exceptionally well on Tuesday, witnessing a jump of 55 points to Rs. 356.80. The previous share price was Rs. 340.10. The company will soon declare its quarterly results and has announced the date for the same.
The Tata Group company announced that an audit of the financial results for the December quarter has been completed, and a board meeting has been organised for February 4, 2025. Notably, Tata Power is an electric distribution company listed on the BSE 100 Index. The company’s market cap on the BSE is Rs. 1,13,849 crore.
Last month, the group’s company announced a big investment in Bhutan. Tata Power’s CEO Pravir Sinha had informed that the construction work of Rs 6,900 crore Khorlochhu Hydropower Project already started and the plant is likely to be operational by 2029. The 600 Mw power project is being developed on the Kholongchhu River.
While talking to reporters, Sinha said they are looking at Bhutan and the work for the hydro power project has already been started., “ Sinha said.
In FY24, Tata Power’s established capacity was 15.6 GW in which renewable energy was 6.7 MW.
According to BSE analytics, Tata Power’s stocks have witnessed a plunge in the last few weeks. However, the company’s stocks have gone up by 64% in the last two years and it has registered a net profit of 472% in the last five years.
