Tata Power Company will hold a meeting of the Board of Directors of the Company on 4 February 2021.

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Tata Power Company announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 16 February 2021.

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Tata Power Company Ltd gained for a third straight session today. The stock is quoting at Rs 85.95, up 3.18% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.33% on the day, quoting at 14531.85. The Sensex is at 49357.56, up 0.18%. Tata Power Company Ltd has risen around 17.02% in last one month.

Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has risen around 0.4% in last one month and is currently quoting at 17108.55, up 1.01% on the day. The volume in the stock stood at 337.34 lakh shares today, compared to the daily average of 330.48 lakh shares in last one month.

The benchmark January futures contract for the stock is quoting at Rs 86.05, up 2.99% on the day. Tata Power Company Ltd is up 44.7% in last one year as compared to a 17.86% spurt in NIFTY and a 7.72% spurt in the Nifty Energy index.

The PE of the stock is 0 based on TTM earnings ending September 20.

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Tata Power has today acquired 51% equity stake each in TP Southern Odisha Distribution (TPSODL) and TP Western Odisha Distribution (TPWODL) for a consideration of Rs 127.50 crore and Rs 255 crore, respectively. GRIDCO (GRIDCO) will hold balance 49% equity stake each on TPSODL and TPWODL.

TPSODL was incorporated on 25 December 2020 as a wholly owned subsidiary of GRIDCO to carry out the business of SOUTHCO Utility. The Hon'ble Odisha Electricity Regulatory Commission (OERC), vide its Vesting Order dated 28 December 2020, has vested the license to TPSODL to carry out the function of distribution and retail supply of electricity covering the distribution circles of Ganjam City, Berhampur, Aksa, Bhanjannagar, Jeypore and Rayagada in the state of Odisha for a period of 25 years effective 1 January 2021.

TPWODL was incorporated on 30 December 2020 as a wholly owned subsidiary of GRIDCO to carry out the business of WESCO Utility. OERC, vide its Vesting Order dated 28th December 2020, has vested the license to TPWODL to carry out the function of distribution and retail supply of electricity covering the distribution circles of Rourkela, Burla, Bhawanipatna, Bolangir and Bargargh in the state of Odisha for a period of 25 years effective 1 January 2021.

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