TATAPOWER.NSE Tata Power Co. Ltd.

Tata Power Renewable Energy is a subsidiary of Tata Power Company, Indias largest integrated power utility. Micro, small and medium enterprises (MSMEs) that are willing to opt for rooftop solar PV plant or associated services from Tata Power or its authorised channel partners across India will be financially supported by SIDBI under the scheme, said the company.Under this strategic partnership, TPSSL and SIDBI will encourage solar energy adoption among MSMEs by offering customised & innovative financing solutions through SIDBIs 4E (End to End Energy Efficiency) Scheme. The 4E solar financing scheme offers TPSSLs customers an array of benefits, including the most competitive interest rates and loan limit to meet the requirement of the MSME sector.TPSSL and SIDBI has also announced the launch of The Big Solar Fest at the Global SME Finance Forum 2023 to offer zero processing fees for the upcoming festival season to encourage the widespread adoption of solar energy among MSMEs.Praveer Sinha, CEO & MD of Tata Power, said, MSMEs are the backbone of Indias economy. They operate across industrial segments and are major consumers of electricity. Our strategic collaboration with SIDBI will facilitate the ‘ease of opting renewable energy in the MSME sector and power its quest to become more efficient and globally competitive.The MoU builds upon the success and positive feedback received from the collateral-free solar financing initiative introduced by TPSSL and SIDBI in 2021.TPSSLs solar EPC portfolio is more than 11.5 GWp of ground-mount utility-scale, over 1.7 GW of rooftop and distributed ground-mounted systems, and over 1,00,000 solar water pumps.SIDBI is the principal financial institution for the promotion, financing and development of the MSME sector and for co-ordination of the functions of the institutions engaged in similar activities.Tata Power Company is one of Indias largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed managed capacity of 14,319 MW. The company has a presence across the entire power value chain generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.The companys consolidated net profit jumped 29% to Rs 1,141 crore in Q1 FY24 as against Rs 884 crore reported in Q1 FY23. Consolidated revenue rose 2% to Rs 15,003 crore in Q1 FY24 as compared with Rs 14,776 crore recorded in the corresponding quarter last year.Shares of Tata Power Company rose 0.36% to Rs 263.70 on the BSE.

Tata Power Renewable Energy Limited (TPREL) is a subsidiary of Tata Power, one of Indias largest integrated power companies.U.S. International Development Finance Corporation (DFC) board of directors approved the provision of up to $425 million in TP solars upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli district in Tamil Nadu, India. DFC is Americas development finance institution.This investment will support Indias ambitious program to increase renewable energy manufacturing capability to support domestic solar capacity addition as part of its global green energy transition. DFCs financial support of Tata Power will help secure the supply chain in the countrys journey for leadership in clean energy space.The plants first module production is expected by the year end and the first cell production is expected in the first quarter of FY24.Currently, Tata Powers renewable portfolio stands at approximately 7.8 GW, with 4.1 GW operational and 3.6 GW under implementation. The company also has already operating a solar cell and module manufacturing plant of 500 MW capacity, each at Bengaluru.Praveer Sinha, CEO & MD, Tata Power, said, “We appreciate DFCs assistance for our solar cell and module production facility in Tamil Nadu. It shows the trust and belief DFC has in Tata Powers ability to set up a state-of-the-art manufacturing supply line in the country. This will go a long way in supporting the renewable and clean energy transition in the country.”Tata Power Company is one of Indias largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed managed capacity of 14,319 MW. The company has a presence across the entire power value chain generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.The companys consolidated net profit jumped 29% to Rs 1,141 crore in Q1 FY24 as against Rs 884 crore reported in Q1 FY23. Consolidated revenue rose 2% to Rs 15,003 crore in Q1 FY24 as compared with Rs 14,776 crore recorded in the corresponding quarter last year.

Tata Power Company Ltd is up for a third straight session today. The stock is quoting at Rs 272, up 1.17% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.64% on the day, quoting at 19947.45. The Sensex is at 66971.86, up 0.56%. Tata Power Company Ltd has gained around 17.67% in last one month. Meanwhile, Nifty Auto index of which Tata Power Company Ltd is a constituent, has gained around 4.57% in last one month and is currently quoting at 27438.05, up 0.52% on the day. The volume in the stock stood at 117.93 lakh shares today, compared to the daily average of 163.59 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 272.15, up 0.78% on the day. Tata Power Company Ltd is up 12.03% in last one year as compared to a 11.21% jump in NIFTY and a 1.3% jump in the Nifty Auto index.The PE of the stock is 26.08 based on TTM earnings ending June 23.

The U.S. International Development Finance Corporations (DFC) Board of Directors approved the provision of up to USD 425 million in financing in TP Solar, a subsidiary of Tata Power Renewable Energy (TPREL), for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli district in Tamil Nadu, India. DFC is Americas development finance institution. Tata Power Renewable Energy (TPREL) is a subsidiary of Tata Power, one of Indias largest integrated power companies. The plants first module production is expected by the year end and the first cell production is expected in the first quarter of FY24. Pending a U.S. congressional notification, this investment will support Indias ambitious program to increase renewable energy manufacturing capability to support domestic solar capacity addition as part of its global green energy transition. DFCs financial support of Tata Power will help secure the supply chain in the countrys journey for leadership in clean energy space. DFC partners with the private sector players across the globe to finance solutions to the most critical challenges facing the developing world today. The financing support came at a time when global leaders were deliberating on energy transition and other critical sustainability challenges at the recently concluded G20 Summit in New Delhi. This financing support will contribute towards securing Indias commitment to achieve 500 GW of clean energy targets by 2030. The Tirunelveli manufacturing plant will integrate advanced technologies enabling the production of high wattage solar modules and cells with industry-leading efficiencies. Additionally, the facility will implement industry 4.0 standards for smart manufacturing. The plant is expected to create over 2000 employment opportunities directly or indirectly, with the majority of the employees being women employees from the local areas.

Nearly 52.5 lakh shares of Tata Power were sold in a block deal at a price of Rs 270 per share.

It seems that the Nifty Index is currently in a positive trend and has the potential to move towards the 19,991 levels in the short to medium term.