Tata Power Company Ltd is up for a third straight session in a row. The stock is quoting at Rs 81.15, up 6.64% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.18% on the day, quoting at 10857.35. The Sensex is at 36128.34, down 0.18%. Tata Power Company Ltd has risen around 7.77% in last one month.

Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has risen around 2.24% in last one month and is currently quoting at 14323.95, down 0.17% on the day. The volume in the stock stood at 180.24 lakh shares today, compared to the daily average of 57.02 lakh shares in last one month.

The benchmark December futures contract for the stock is quoting at Rs 81.35, up 6.83% on the day. Tata Power Company Ltd is down 9.68% in last one year as compared to a 7.2% spurt in NIFTY and a 2.86% spurt in the Nifty Energy index.

The PE of the stock is 15.28 based on TTM earnings ending September 18.

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Tata Power Company announced that the company welcomes the resolution by the Government of Gujarat to accept the recommendationsof the High Power Committee in giving some relief to Mundra Ultra Mega Power Project that meets nearly 15% of Gujarat's requirement of power at a very reasonable cost. This relief will help Coastal Gujarat Power to continue its operations to meet its obligations to all the five beneficiary States. Though the coal cost is now a pass through, the Company would continue to make losses due to rebate on financing cost and coal mines profit is being passed on to the beneficiary States. The company expectsto get the consent of other four procurer States based on the to the recommendations of the High Power Committee's and thereafter amendment to the PPAs so as to seek necessary approvals fromCERC as per the directions of the Hon'ble Supreme Court.

This positive step is in the interest of all stakeholders, including the end consumers, who get 24/7 reliable electricity supply from CGPL power plant. In case these projects were shut down, replacing such huge capacity with alternate sources from the market would not be feasible as the short-term market prices are not only much higher and volatile, the availability of power is ìncertain. Also, establishing new imported/indigenous coal-based power plants would have significantly higher fixed and variable costs and· high gestation period and hence, would not offer any solution to immediate power requirement.

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Tata Power Company announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 12 December 2018 .

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Net profit of Tata Power Company rose 85.11% to Rs 393.36 crore in the quarter ended September 2018 as against Rs 212.50 crore during the previous quarter ended September 2017. Sales rose 6.68% to Rs 7332.58 crore in the quarter ended September 2018 as against Rs 6873.65 crore during the previous quarter ended September 2017.

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