Tata Power Company Ltd Share Price – NSE  / BSE

Power Generation & Distribution, Mid Cap

Tata Power and the Asian Development Bank (ADB) have signed a Memorandum of Understanding (MoU) coinciding with the ongoing Climate Conference (COP29) at Baku, Azerbaijan, to evaluate financing for its several strategic projects aimed at enhancing India's power infrastructure and promoting renewable and clean energy.

The MoU outlines the evaluation of financing for several key ongoing projects such as the 966 MW Solar Wind Hybrid project and Pumped Hydro Storage Project and other projects in the pipeline around energy transition, decarbonization, and battery storage as well as ongoing financing for capex towards strengthening the distribution networks managed by Tata Power.

The total estimated project cost is approximately US $4.25 billion.

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The domestic equity benchmarks traded with significant losses in morning trade. The Nifty dropped below the 23,350 mark. PSU bank shares extended losses for the second consecutive trading session. Trading could be volatile due to weekly F&O series expiry today.

At 10:26 IST, the barometer index, the S&P BSE Sensex declined 482.18 points or 0.62% to 77,095.02. The Nifty 50 index lost 176.85 points or 0.75% to 23,341.65.

The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index shed 0.81% and the S&P BSE Small-Cap index fell 1.05%.

The market breadth was weak. On the BSE, 1,006 shares rose and 2,642 shares fell. A total of 140 shares were unchanged.

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The Nifty PSU Bank index dropped 4.20% to 6,221.45. The index fell 4.79% in two consecutive trading sessions.

Bank of Baroda (down 6.32%), Punjab National Bank (down 5.31%), Canara Bank (down 4.76%), State Bank of India (down 4.74%), Bank of India (down 3.47%), Central Bank of India (down 2.83%), Bank of Maharashtra (down 2.73%), UCO Bank (down 2.68%), Union Bank of India (down 2.47%) and Indian Overseas Bank (down 2.46%) declined.

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Tata Power Company shed 0.55%. The company said that it has entered into a strategic partnership with Druk Green Corporation, a subsidiary of Druk Holding and Investments, to develop at least 5,000 megawatts of clean energy generation capacity in Bhutan.

BEML slipped 0.54%. The company said that it has has secured a substantial order worth Rs 246.78 crore from Central Coalfields (CCL).

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This partnership aligned with Bhutan's vision for its energy sector, which aimed to increase its overall generation capacity to 25,000 MW by 2040, ensuring energy security and promoting regional energy integration. Bhutan sought to achieve this target by diversifying its energy portfolio beyond traditional hydropower to include solar and geothermal energy. This included diversifying project structuring and financing through such strategic partnerships.

This strategic partnership signifies Tata Power's pre-eminence as the most preferred clean energy partner not only in India but also as a regional leader. This partnership will help unleash Bhutan’s great potential for hydropower and its important role in ensuring energy security in the region.

Through this collaboration, the companies planned to develop at least 5,000 MW of renewable energy projects. This included 4,500 MW of hydropower, which encompassed the 1,125 MW Dorjilung HEP, 740 MW Gongri Reservoir, 1,800 MW Jeri pumped storage, and 364 MW Chamkharchhu IV, all to be developed in phases. Additionally, 500 MW of solar projects were planned to be developed by Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power.

As part of this collaboration, Tata Power had recently acquired a 40% stake in the 600 MW Khorlochhu Hydroelectric project, with an investment of over Rs 6,900 crore for its development.

Tata Power and DGPC have a long-standing relationship since 2008 when the two companies joined forces to successfully develop the 126 MW Dagachhu Hydropower Plant as the first public private partnership in Bhutan’s hydropower sector. Tata Power also has a transmission project of a 1,200 km long Tala transmission line that evacuates clean power from Bhutan to India.

Tata Power has emerged as a leader in the renewable energy space, with a robust clean and green portfolio crossing 12.9 GW (6.4 GW operational, 6.5 GW under construction) which constitutes 42% of its total capacity, and is well-positioned to expand this to 70% by 2030. Tata Power has over 100 years of experience in hydropower generation and is emerging as a key player in pumped hydro storage projects. The Company is committed to supporting India’s successful energy transition, it added.

Praveer Sinha, CEO & MD, Tata Power, said, “Tata Power's partnership with Druk Green Power Corporation reinforces our credentials as the most preferred clean energy partner in the region. Together, we are building 5000 MW of clean energy capacity that will help harness Bhutan's hydropower potential and support both countries' growing energy demands with reliable and round-the-clock clean energy supply. Together we are shaping a new energy era.

Dasho Chhewang Rinzin, MD, DGPC said, “This strategic partnership with Tata Power is in keeping with Bhutan’s aspirations to maximize benefits to the people of Bhutan through fast-tracking the harnessing of its huge renewable energy resources for its economic development and long-term energy security. Bhutan places a lot of confidence in Tata Power and the partnership to deliver on these expectations.”

Tata Power Company is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 14,453 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 company’s consolidated net profit increased 7.44% to Rs 1,093.08 crore despite of 0.26% increase in revenue from operations to Rs 15,697.67 crore in Q2 FY25 over Q2 FY24.

Shares of Tata Power Company fell 1.90% to currently trade at Rs 400.35 on the BSE.

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Tata Power Company Ltd is up for a third straight session today. The stock is quoting at Rs 414, up 2.3% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.25% on the day, quoting at 23745.85. The Sensex is at 78326.94, up 1.28%. Tata Power Company Ltd has slipped around 8.77% in last one month.

Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has slipped around 9.26% in last one month and is currently quoting at 36757.2, up 1.18% on the day. The volume in the stock stood at 60.86 lakh shares today, compared to the daily average of 116.46 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 415.1, up 2.33% on the day. Tata Power Company Ltd is up 58.71% in last one year as compared to a 20.57% jump in NIFTY and a 31.47% jump in the Nifty Energy index.

The PE of the stock is 41.47 based on TTM earnings ending September 24.

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