Tata Power shares have been on an upward trend lately. They were up 0.85% from the previous closing price of Rs 326.7, reaching Rs 340.75.
Here's a breakdown of their recent performance:
- Current (Jan 5, 2024): Rs 340.75, up 0.85% from previous closing price
- Record high (Dec 7, 2023): Rs 332.30, marking a 50% increase for the current financial year (FY24)
- Six-month performance: 45.47% gain
- Year-on-year performance: 40.64% gain
Several factors contribute to this impressive rise:
- Strong order book: Tata Power secured several contracts throughout the year, boosting investor confidence.
- Government focus on power infrastructure: The Indian government's focus on developing the power sector in the upcoming budget plays a role.
- Technical indicators: Some technical indicators, like relative strength index (RSI), suggest the stock is in an uptrend zone.
What is the market cap of Tata power?
The market capitalization of Tata Power as of Friday, January 5, 2024, was ₹1,08,881.20 crore. This translates to approximately $13.10 billion. Here's a breakdown of the market cap in different formats:
- In crores: ₹1,08,881.20 crore
- In billions: ₹1.08 trillion
- In US dollars: $13.10 billion
Here are some additional details about Tata Power's market cap:
- Rank: As of January 2024, Tata Power is the 1265th most valuable company in the world by market cap.
- Sector: Tata Power operates in the power sector, which includes electricity generation, transmission, and distribution.
- Peers: Some of Tata Power's competitors in India include Adani Power, Reliance Power, and NTPC.
Few recent projects/ bids won by Tata power?
Tata Power, a leading Indian energy company, has been on a winning streak lately, securing several contracts and bids across various segments. These achievements not only strengthen their position in the Indian power market but also demonstrate their commitment to diversifying their portfolio and driving sustainable growth. Here's a glimpse into some of their recent wins:
1. 200 MW Firm and Dispatchable Renewable Energy (FDRE) Project:
- Awarded by SJVN, a state-owned power generation company.
- Comprises a combination of wind, solar, and battery storage.
- Offset 900,000 tonnes of CO2 emissions annually.
- Bolsters Tata Power's renewable energy portfolio, reaching 8.3 GW.
2. ₹1544 Crore Transmission Project in Rajasthan:
- Acquired Bikaner-III Neemrana-II Transmission project SPV.
- Estimated cost of ₹1,544 crore with commissioning within 24 months.
- Strengthens Tata Power's transmission infrastructure and expands reach.
3. 225 MW Wind-Solar Hybrid Projects Bid:
- Invited bids for developing these projects.
- Showcases Tata Power's focus on hybrid renewable energy solutions.
- Aligns with India's growing demand for clean and sustainable power.
4. Memorandum of Understanding with Maharashtra Government:
- To develop two pumped hydro storage projects with a total capacity of 2.8 GW.
- Provides long-term energy storage solutions and grid stability.
- Positions Tata Power as a leader in innovative energy solutions.
Tata Power's diversified approach, focus on renewables, and strategic partnerships are key factors driving their growth. As India's energy landscape continues to evolve, Tata Power is well-positioned to play a leading role in shaping a sustainable future.
