Tata Power Company Ltd Share Price – NSE /  BSE

Power Generation & Distribution, Mid Cap

Shares of Canara Bank shed 0.47% to currently trade at Rs 102.42 on the BSE.

The said collaboration aims to simplify access to solar energy solutions for households by providing attractive financing options, empowering citizens to transition to a more sustainable energy future.

As part of the initiative, households can benefit from tailored financing options under the PM Surya Ghar Scheme, designed to make rooftop solar installations more accessible and affordable.

For systems with a capacity of up to 3 kW, the scheme offers loans of up to Rs 2 lakh with a 10% margin money requirement, collateral-free financing, a competitive interest rate of 7% per annum, and tenure of up to 10 years. For systems between 3 kW and 10 kW, the scheme provides loans of up to Rs 6 lakh with a 20% margin money requirement, collateral-free financing, and interest rates at 10% per annum, with a maximum tenure of 10 years. These options ensure financial flexibility and support households in their transition to clean energy solutions, it added.

Deepesh Nanda, CEO & MD, TPREL, said, “This initiative aligns perfectly with Tata Power Renewable Energy Limited’s mission to drive the widespread adoption of solar energy in India. Our partnership with Canara Bank marks a significant step in accelerating the adoption of rooftop solar systems nationwide. By offering affordable financing options under the PM Surya Ghar Scheme, we aim to make clean energy solutions accessible to every household, fostering a sustainable energy ecosystem and advancing India’s renewable energy objectives.”

R. Anuradha, GM, Retail Assets, Canara Bank, said, “Canara Bank is happy to collaborate with Tata Power Renewable Energy Limited to drive the implementation of the PM Surya Ghar Scheme. Through this partnership, we are providing households with the financial tools to embrace solar energy, reducing their energy costs while contributing to India’s sustainability goals. This initiative reflects our shared commitment to environmental stewardship and a cleaner, greener future.

TPREL, recognized as India’s No. 1 solar rooftop company, leads the market with over 100,000 satisfied customers. The company offers comprehensive solutions across various sectors, including residential, commercial, and industrial, MSMEs, large enterprises, and group captives, demonstrating a strong commitment to meeting diverse energy needs.

Tata Power Company is one of India's largest integrated power companies, and together with its subsidiaries and jointly controlled entities, it 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.

Canara Bank is an Indian public sector bank. As on 30 September 2024, the bank has 9,658 branches, out of which 3,115 are rural, 2,778 semiurban, 1,918 urban & 1,847 metro along with 9,881 ATMs. The bank is also having 4 overseas branches in London, New York, Dubai and Gift City.

Shares of Tata Power Company fell 0.32% to Rs 411.30 on the BSE.

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Tata Power Company Ltd dropped for a fifth straight session today. The stock is quoting at Rs 426, down 0.57% on the day as on 13:17 IST on the NSE. The benchmark NIFTY is down around 0.38% on the day, quoting at 24673.75. The Sensex is at 81773.57, down 0.44%.Tata Power Company Ltd has gained around 5.26% in last one month.Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has increased around 0.69% in last one month and is currently quoting at 37194.2, down 0.5% on the day. The volume in the stock stood at 28.39 lakh shares today, compared to the daily average of 104.14 lakh shares in last one month.

The benchmark December futures contract for the stock is quoting at Rs 426.35, down 0.83% on the day. Tata Power Company Ltd jumped 26.39% in last one year as compared to a 15.2% rally in NIFTY and a 13.8% spurt in the Nifty Energy index.

The PE of the stock is 43.88 based on TTM earnings ending September 24.

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In an exchange filing, the company said that India's first large-scale solar project to combine single-axis trackers and bi-facial modules, spanning 1,635.63 acres, has set a new benchmark for solar energy generation in India. This innovative project, which boosts efficiency by over 15%, was won through a competitive bidding process and built despite challenges such as rocky terrain and remote logistics, it added.

Deepesh Nanda, CEO and managing director of Tata Power Renewable Energy, said, “We are thrilled to announce the successful commissioning of the 431 MW DC solar project in Neemuch. At Tata Power Renewables, we are proud to lead the way towards a greener future for India, and this project is a testament to our commitment to sustainable energy and innovation while working tirelessly to enhance efficiency and reliability in India’s solar sector.

We are confident that this project will not only reduce our carbon footprint but also strengthen our role in powering key infrastructure, including Western Central Railways and Madhya Pradesh Power Management Co.”

The project contributes to sustainability with an estimated CO2 offset of 7,80,300 tonnes. It meets the highest engineering standards, with SCADA commissioning ensuring optimal performance. CEA compliance ensures smooth operation of the Static Var Generator (SVG), while harmonic filters maintain WRLDC compliance.

Additionally, the project ensures a reliable power supply to Western Central Railways and Madhya Pradesh Power Management Company Limited, strengthening the region’s energy infrastructure.

Tata Power Company is one of India's largest integrated power companies, and together with its subsidiaries and jointly controlled entities, it 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 a 0.26% increase in revenue from operations to Rs 15,697.67 crore in Q2 FY25 over Q2 FY24.

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The equity barometers continued to extend gains and hit fresh day's high in the afternoon trade. The Nifty further marched above the 23,700 level. Barring the Nifty Media index, all the other sectoral indices traded in the green.

At 13:26 IST, the barometer index, the S&P BSE Sensex, rallied 1,200.02 points or 1.56% to 78,355.81. The Nifty 50 index added 364.80 points or 1.56% to 23,714.70.

The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index advanced 1.07% and the S&P BSE Small-Cap index rallied 0.74%.

The market breadth was strong. On the BSE, 2,354 shares rose and 1,490 shares fell. A total of 140 shares were unchanged.

Economy:

The HSBC Flash India Composite Output Index stood at 59.5 in November as compared with 59.1 recorded in October, indicating a sharp rate of expansion that was the strongest in three months and above its long-run average.

The HSBC flash India services PMI business activity index stood 59.2 in November as against 58.5 in October 2024. The HSBC India Manufacturing PMI data stood at 57.3 in November, down marginally from 57.5 in October. The HSBC Flash India Manufacturing PMI Output Index fell to 60.2 in November as against 60.4 in October 2024

Gainer & Losers:

State Bank of India (up 3.79%), Tata Consumer Products (up 3.16%), Trent (up 3.12%), Ultratech Cement (up 2.66%) and Adani Enterprises (up 2.58%) were major Nifty gainers.

Axis Bank (down 0.18%) and HDFC Bank (down 0.01%) were major Nifty losers.

Stocks in Spotlight:

Tata Power Company rose 1.29% after the company signed a memorandum of understanding (MoU) with Asian Development Bank for $4.25 billion to finance key clean energy power projects.

Raymond rallied 7.04% after the company received a ‘No observation letter’ from the NSE & BSE for the scheme of arrangement between the company and Raymond Realty.

Ceenik Exports (India) locked in an upper circuit of 5% after the company reported standalone net profit of Rs 4.28 crore in Q2 FY25, steeply higher than Rs 0.13 crore posted in Q2 F24. Total income from operations was at Rs 6.48 crore in the second quarter of FY25, zoomed 867.16% year on year.

Innovators Facade Systems jumped 6.41% after the company received the work order for the Prestige Trade Centre project from Prestige Mulund Realty worth Rs 110 crore.

Global Markets:

Shares in Europe advanced on Friday as investors closely monitored further escalations in the Russia-Ukraine war.

Asian stocks traded mixed as traders assessed Japan’s manufacturing sector and consumer price index data.

Japan's manufacturing sector contracted for the fifth consecutive month in November, as indicated by the preliminary au Jibun Bank flash PMI, which fell to 49.0 from 49.2 in October.

Japan's October consumer price index (CPI) data revealed a slight uptick in headline inflation and a further rise in core inflation, surpassing the Bank of Japan's 2% target. This development fuels expectations of additional interest rate hikes.

US equities closed higher on Thursday, though tech stocks continued to face pressure following Alphabet's decline due to regulatory concerns. Uncertainty surrounding interest rates persisted, fueled by slightly elevated jobless claims and cautious remarks from Federal Reserve officials.

At the close in NYSE, the Dow Jones Industrial Average rose 1.06%, while the S&P 500 index gained 0.53%, and the NASDAQ Composite index gained 0.04%.

On the economic front, weekly jobless claims fell to 213,000 for the week ending 16th November, down from 219,000 the previous week. This data signals ongoing strength in the U.S. labour market.

Alphabet Inc. shares declined 0.4% in after-hours trading following a 4.7% drop during the regular session on Thursday. The Department of Justice (DOJ) has proposed that Google divest its Chrome web browser to mitigate its dominance in online search. Additionally, the DOJ recommended that Google share its data and search results with competitors and potentially sell its Android operating system. These recommendations follow a recent court ruling that declared Google's online search monopoly illegal.

The broader tech sector was also impacted by Nvidia's mixed third-quarter results. While the company exceeded earnings expectations on strong AI demand, it forecast a slower revenue growth rate for the current quarter.

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