Tata Power shares gain over 1.5% in early trade; here is why
Tata Power share price NSE: Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power Company Limited, informed the bourses that it would set up a 41 MW captive solar plant at Thoothukudi, Tamil Nadu, for TP Solar Limiteds (TP Solar) new greenfield 4.3 GW solar cell and module manufacturing facility in Tirunelveli, Tamil Nadu.
Tata Power share price NSE: Tata Power shares were on investors' radar on Thursday (September 28), a day after Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power Company Limited, informed the bourses that it would set up a 41 MW captive solar plant at Thoothukudi, Tamil Nadu, for TP Solar Limited's (TP Solar) new greenfield 4.3 GW solar cell and module manufacturing facility in Tirunelveli, Tamil Nadu. The counter edged higher in early morning deals and rose as much as 1.7 per cent to Rs 264.25 on the NSE. The counter ended at Rs 259.4, down 0.13 per cent on NSE.
"The captive plant will help generate 101 million units of electricity and offset around 72,000 metric tonnes of CO2 emissions annually. The captive solar project will be commissioned 12 months from the signing of the Project Development Agreement," the Tata Group power generation company's regulatory filing read. "With this new captive solar plant, TPREL’s total capacity will expand to 7,877 MW, including 3,720 MW of projects at different stages of implementation, and an operational capacity of 4,157 MW, comprising 3,154 MW of solar energy and 1,003 MW of wind energy, the regulatory filing further said.
Here's how the stock traded on Thursday:
stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.