Torrent Power Ltd Share Price – NSE  / BSE

Power Generation & Distribution, Mid Cap

Torrent Power will hold a meeting of the Board of Directors of the Company on 13 November 2024

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In an exchange filing, the company said that contract entails 2,000 MW capacity is inclusive of 1,500 MW capacity for which a letter of intent was already issued by MSEDCL on 17 September, 2024.

The company has now received an allotment of an additional 500 MW capacity under the tender taking the total capacity allocated to 2,000 MW.

MSEDCL will procure energy storage capacity from Torrent Power’s InSTS connected pumped hydro storage for 40 years. The company plans to supply the storage capacity from its upcoming InSTS connected pumped hydro storage pumped hydro storage plant being set up in Maharashtra.

Total capacity is to be commissioned within 48 months from the signing of energy storage facility agreement. The total annual revenue is Rs 1,680 crore.

Under the Energy Storage Facility Agreement (ESFA) will see MSEDCL procuring storage capacity from the plant, capable of a scheduled discharge of 8 hours per day, with a maximum continuous supply of 5 hours.

Meanwhile, the company has signed share subscription and shareholders agreement with The Lakshmi Mills Company (TLMCL) and Torrent Urja 17 for supply of power from renewable energy sources of 8.5 MWp Solar Power through open access from the Project of TU17 to the production units of TLMCL

Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution.

The company’s consolidated net profit jumped 87.96% to Rs 972.24 crore in Q1 FY25 as against with Rs 517.27 crore posted in Q1 FY24. Revenue from operations grew by 23.28% year on year to Rs 9,033.73 crore in the quarter ended 30 June 2024.

The counter hit all-time high of Rs 1,983.70 in intraday today.

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Marico Ltd, Divis Laboratories Ltd, Elgi Equipments Ltd, Page Industries Ltd are among the other stocks to see a surge in volumes on BSE today, 09 October 2024.

Torrent Power Ltd saw volume of 1.14 lakh shares by 10:47 IST on BSE, a 4.98 fold spurt over two-week average daily volume of 22926 shares. The stock increased 6.93% to Rs.1,943.05. Volumes stood at 18544 shares in the last session.

Marico Ltd recorded volume of 1.93 lakh shares by 10:47 IST on BSE, a 4.59 times surge over two-week average daily volume of 41986 shares. The stock gained 0.07% to Rs.698.00. Volumes stood at 31563 shares in the last session.

Divis Laboratories Ltd notched up volume of 27951 shares by 10:47 IST on BSE, a 4.09 fold spurt over two-week average daily volume of 6830 shares. The stock rose 5.16% to Rs.5,833.00. Volumes stood at 4664 shares in the last session.

Elgi Equipments Ltd notched up volume of 25768 shares by 10:47 IST on BSE, a 2.82 fold spurt over two-week average daily volume of 9146 shares. The stock rose 5.79% to Rs.678.95. Volumes stood at 6956 shares in the last session.

Page Industries Ltd witnessed volume of 546 shares by 10:47 IST on BSE, a 1.91 times surge over two-week average daily volume of 285 shares. The stock increased 1.56% to Rs.42,969.95. Volumes stood at 102 shares in the last session.

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Torrent Power has received letter of award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for long-term supply of 2,000 Megawatt (MW) Energy Storage Capacity from InSTS Connected Pumped Hydro Storage Plant.

This 2,000 MW capacity is inclusive of 1,500 MW Capacity for which Letter of Intent was already issued by MSEDCL on September 17, 2024. The Company has now received allotment of additional 500 MW capacity under the tender taking the total capacity allocated to 2,000 MW.

MSEDCL will procure energy storage capacity from Torrent Power's InSTS Connected Pumped Hydro Storage for a period of 40 years. The Company plans to supply the storage capacity from its upcoming InSTS Connected Pumped Hydro Storage pumped hydro storage plant being set up in Maharashtra.

Under the Energy Storage Facility Agreement (ESFA), the Company shall make available to MSEDCL a contracted capacity of 2,000 MW capable of scheduled discharge of 8 hours (with maximum continuous 5 hours) per day. The input energy for charging shall be provided by MSEDCL.

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