Tata Power Company will hold a meeting of the Board of Directors of the Company on 2 May 2019.

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Tata Power Company Ltd is up for a fifth straight session today. The stock is quoting at Rs 74.9, up 0.67% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.37% on the day, quoting at 11711.95. The Sensex is at 39050.13, up 0.46%. Tata Power Company Ltd has gained around 8.32% in last one month.

Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has gained around 9.72% in last one month and is currently quoting at 16532.1, up 0.28% on the day. The volume in the stock stood at 83.94 lakh shares today, compared to the daily average of 71.19 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 75.1, up 0.27% on the day. Tata Power Company Ltd is down 11.31% in last one year as compared to a 14.32% jump in NIFTY and a 23.76% jump in the Nifty Energy index.

The PE of the stock is 18.41 based on TTM earnings ending December 18.

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Tata Power Company Ltd rose for a third straight session today. The stock is quoting at Rs 74.2, up 3.7% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.23% on the day, quoting at 11596.2. The Sensex is at 38611.6, up 0.17%. Tata Power Company Ltd has added around 10.66% in last one month.

Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has added around 11.06% in last one month and is currently quoting at 16384.5, up 0.71% on the day. The volume in the stock stood at 59.15 lakh shares today, compared to the daily average of 71.94 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 75.1, up 4.16% on the day. Tata Power Company Ltd is down 9.4% in last one year as compared to a 13.56% gain in NIFTY and a 24.15% gain in the Nifty Energy index.

The PE of the stock is 17.72 based on TTM earnings ending December 18.

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The announcement was made during trading hours today, 27 March 2019.

Meanwhile, the S&P BSE Sensex was down 120.92 points, or 0.32% to 38,112.49.

On the BSE, 1.95 lakh shares were traded in the counter so far compared with average daily volumes of 5.54 lakh shares in the past two weeks. The stock had hit a high of Rs 72.80 and a low of Rs 71.30 so far during the day. The stock hit a 52-week high of Rs 89.50 on 2 May 2018. The stock hit a 52-week low of Rs 59.90 on 9 October 2018.

Tata Power Company announced that Maharashtra Electricity Regulatory Commission (MERC) has allowed the distribution business of Tata Power to have a power purchase arrangement (PPA) with its generation arm for 700 megawatts (MW) to be supplied from its Trombay Thermal and Hydro plants for a period of five years from 1 April 2019 to 31 March 2024.

After the due diligence for ensuring the reliability of supply and cost competitiveness for the Tata consumers in Mumbai, the Commission, in its order on 26 March 2019, approved the arrangement.

Earlier in January 2019, the Commission approved the PPA of Tata Power with BEST for 677 MW. The process of power tie-up was undertaken by the distribution business for its consumers for the period of five years starting 1 April 2019. The existing power tie-up was scheduled to expire on 31 March 2019. This will ensure cheaper power to Mumbai consumers with the added advantage of inexpensive hydro peaking power. This will also ensure continuity of reliable power supply to Mumbai consumers from embedded Tata Power thermal and hydro generating stations.

On a consolidated basis, net profit of Tata Power Company dropped 78.56% to Rs 126.68 crore on 21.17% rise in net sales to Rs 7706.71 crore in Q3 December 2018 over Q3 December 2017.

Tata Power is India's largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed capacity of 10757 MW.

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