Tata Power Renewable Energy is a wholly owned subsidiary of Tata Power Company. 'The LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW, making this the largest renewable energy project in state of Maharashtra till date for TPREL,' the company said in regulatory filing. The project is part of MSEDCL's broader initiative to meet the state's renewable purchase obligation (RPO) and address future power demands at competitive tariff. The electricity generated by the hybrid project, which combines solar and wind energy, will be supplied to MSEDCL, aiding the utility company in meeting its energy needs sustainably and enhancing Maharashtra's renewable energy portfolio. The project is expected to be completed within 24 months from signing of the Power Purchase Agreement (PPA) between TPREL and MSEDCL and will play a crucial role in cutting carbon emissions, with an estimated reduction of 895 million kilograms of CO2 annually. With this achievement, TPREL's total renewable energy capacity now stands at 10.5 GW with 5.7 GW of projects in various stages of implementation. Its operational capacity has reached 4.8 GW, comprising 3.8 GW of solar and 1 GW of wind energy projects. 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 decreased marginally to Rs 970.91 crore in Q1 FY25 as compared with Rs 972.49 crore in Q1 FY24.Revenue from operations grew 13.67% to Rs 17,293.62 crore during the first quarter as compared with Rs 15,213.29 crore in the corresponding quarter last year. Shares of Tata Power added 0.11% to Rs 445.55 on the BSE.Powered by Capital Market - Live

Tata Power Renewable Energy (TPREL), a subsidiary of The Tata Power Company (Tata Power), has successfully secured a Letter of Award (LoA) from the Maharashtra State Electricity Distribution Company (MSEDCL), a wholly owned entity under the Maharashtra Government, for the development of a 400 MW Wind-Solar Hybrid project in Maharashtra. The LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW, making this the largest renewable energy project in state of Maharashtra till date for TPREL. The project is part of MSEDCL's broader initiative to meet the state's Renewable Purchase Obligation (RPO) and address future power demands at competitive tariff. The LoA was issued through a competitive bidding process conducted via an electronically based reverse auction portal.Powered by Capital Market - Live

Tata Power Company Ltd rose for a fifth straight session today. The stock is quoting at Rs 445.75, up 0.15% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.23% on the day, quoting at 25476.3. The Sensex is at 83297.27, up 0.26%. Tata Power Company Ltd has added around 6.44% in last one month. Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has added around 1.64% in last one month and is currently quoting at 42648.8, down 0.07% on the day. The volume in the stock stood at 40.1 lakh shares today, compared to the daily average of 116.83 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 446.15, down 0.02% on the day. Tata Power Company Ltd is up 70.13% in last one year as compared to a 28.01% gain in NIFTY and a 55.32% gain in the Nifty Energy index.The PE of the stock is 56.41 based on TTM earnings ending June 24.Powered by Capital Market - Live

The domestic equity indices traded with minor losses in afternoon trade. The Nifty traded below the 25,350 mark. PSU bank, realty and media shares advanced while FMCG and oil & gas shares declined. At 13:30 IST, the barometer index, the S&P BSE Sensex was down 64.81 points or 0.08% to 82,897.90. The Nifty 50 index shed 35.05 points or 0.14% to 25,348.25. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.58% and the S&P BSE Small-Cap index gained 0.98%. The S&P BSE Small-Cap index hit an all-time high at 57,192.12. The market breadth was strong. On the BSE, 2,534 shares rose and 1,360 shares fell. A total of 115 shares were unchanged. Economy: India's retail inflation rose to 3.65% in August, slightly higher than 3.6% reported in July. The inflation was within the Reserve Bank of India's (RBI) medium-term target of 2-6%. Separately, the Index of Industrial Production (IIP) rose slightly to 4.83% in July from 4.72% in June. Gainers & Losers: Wipro (up 3.42%), Bajaj Finance (up 2.58%), Bajaj Finserv (up 2.57%), IndusInd Bank (up 1.84%) and Tata Steel (up 1.55%) were major Nifty gainers. HDFC Life Insurance Company (down 1.48%), SBI Life Insurance Company (down 1.44%), ITC (down 1.31%), Adani Ports and Special Economic Zone (down 1.24%) and Tata Consumer Products (down 1.04%) were major Nifty losers. Stocks in Spotlight: Tata Power Company rose 0.74% and Tata Motors added 0.58%. Tata Power said that EV Charging Solutions, a wholly owned subsidiary of Tata Power Renewable Energy signed Memonrandum of Understanding (MoU) with Tata Motors to set up 200 fast charging stations for electric commercial vehicles (CV) in all metro cities. SBI Cards and Payment Services added 0.90%. The company informed that its board is scheduled to be meet on Wednesday, 18 September 2024, to consider the proposal, for raising of funds aggregating to Rs. 5,000 crore. The company will raise funds through issuance of non-convertible debentures (NCDs) through private placement, in one or more tranches over a period of time. Nazara Technologies advanced 3.35% after the company informed that it has acquired 47.7% stake in Moonshine Technology (MTPL), the parent company of PokerBaazi, India's top online poker gaming platform, for Rs 832 crores through a secondary transaction. H.G. Infra Engineering rallied 4.57% after the firm announced that it has received a letter from the Central Railway for an order worth Rs 716.11 crore. Puravankara jumped 4.32% after the company has acquired the redevelopment rights of Miami Apartments spread over 2,000 sq meter of land at Breach Candy, Mumbai. Transformers and Rectifiers (India) advanced 2.92% after the company announced that it has secured orders worth Rs 114 crore from Rajasthan Rajya Vidyut Prasaran Nigam (RRVPNL). BLS International Services gained 2.92% after the firm said that it has signed definitive agreement to acquire a 100% stake in Citizenship Invest (CI) for a consideration of $31 million (approximately Rs 260 crore). The transaction would be funded through internal accruals. The transaction is expected to be completed by 31 October 2024, subject to necessary approvals. Global Markets: European stocks advanced on Friday, as investors continued to digest the European Central Bank's decision to cut rates and its impact on future monetary policy. The European Central Bank (ECB) implemented a second interest rate cut this year. The key deposit rate was lowered by 25 basis points to 3.5%, aligning with expectations. While the ECB reduced its 2024 economic growth projection, it remains confident that inflation will broadly align with its 2% target by the end of 2025. Asian stocks traded mixed on Friday as investors took profits following the previous session's rally. The market remains optimistic about the possibility of a US Federal Reserve interest rate cut. US stock markets closed higher on Thursday after the latest inflation data solidified expectations for a 25-basis point rate decrease by the Federal Reserve. The Dow Jones Industrial Average gained 0.58%, the S&P 500 rose 0.75%, and the Nasdaq Composite ended 1.00% higher. Warner Bros Discovery shares surged 10.4%, while Charter's stock price increased by 3.6%. Moderna experienced a decline of 12.4%, and Kroger shares rallied 7.2%. The producer price index (PPI) for final demand rose 0.2% in August, slightly exceeding estimates of 0.1% growth. The core PPI, excluding volatile food and energy prices, increased by 0.3%, surpassing the forecasted 0.2%. The number of Americans filing initial claims for unemployment benefits rose marginally last week. Initial claims increased by 2,000 to a seasonally adjusted 230,000 for the week ending September 7. Powered by Capital Market - Live

Tata Motors advanced 1.28% to Rs 998.70 on the BSE. Tata Power EV Charging Solutions is a subsidiary of Tata Power Renewable Energy, which is a subsidiary of Tata Power Company. This strategic move expands their ongoing collaboration, in providing sustainable mobility solutions, with a focus on easy charging solutions for small electric commercial vehicles. Tata Motors and Tata Power will provide exclusive charging tariffs for Tata Motors' electric CV owners, resulting in lower operating costs and increased profitability for its customers. Electric CV users across the Country, will soon benefit from access to almost 1000 strategically located fast chargers, with the planned expansion of the charging network. Deepesh Nanda, CEO & MD, Tata Power Renewable Energy, said, 'With one of the largest EV Charging networks across the country, Tata Power has been enabling electric vehicle owners through its reliable and accessible charging solutions across the country. Already present across diverse segments such as public, semi-public, bus/fleet, and home chargers, we are expanding to the commercial vehicle charging segment, delivering integrated EV charging solutions. This collaboration underlines our commitment to accelerating e-mobility by providing an expansive and reliable EV Charging network across India.' Vinay Pathak, Vice President & Business Head ' SCV&PU, Tata Motors, said, 'We're pleased to strengthen our partnership with Tata Power to transform the electric commercial vehicle landscape by ensuring ease of access of fast chargers at convenient locations across the country. This partnership will also explore avenues to maximize the use of renewable energy to make electric vehicle operations greener.' 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. Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.Powered by Capital Market - Live

The Nifty September 2024 futures closed at 25,097, a premium of 55.90 points compared with the Nifty's closing 25,041.10 in the cash market. In the cash market, the Nifty 50 rose 104.70 points or 0.42% to 25,041.10. The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slipped 6.16% to 13.36. Tata Power Company, HDFC Bank and ICICI Bank were the top traded individual stock futures contracts in F&O segment of NSE. The September 2024 F&O contracts will expire on 26 September 2024. Powered by Capital Market - Live

TP Solar, a subsidiary of Tata Power Renewable Energy (TPREL, a subsidiary of The Tata Power Company), today announced the commencement of commercial production from the 2GW solar cell line at its state-of-the-art manufacturing facility in Tirunelveli, Tamil Nadu ' the country's largest single-location solar cell & module plant. This milestone follows the successful production of solar modules earlier this year. The indigenous production of solar cells marks a significant milestone, supporting India's ambitious clean energy goals and reducing reliance on imports.  The solar cell production, currently at 2 GW capacity will enhance Tata Power's ability to meet the growing demand for high-quality, and domestically produced solar components, especially for large-scale capacity-addition projects. The plant is expected to ramp up production with the remaining 2 GW capacity to be added over the next 4-6 weeks, reaching peak production within the next few months. Having a total cell & module manufacturing capacity of 4.3 GW, the module production line at the Tirunelveli plant was commissioned in October 2023 and has produced 1250 MW of solar modules till date.Powered by Capital Market - Live

Tata Power Company announced the termination of Global Depositary Shares (GDSs) program of the company and subsequent delisting from Luxembourg Stock Exchange with effect from 28 October 2024. Powered by Capital Market - Live

S&P Global stated that it now expects Tata Power to be strategically important to Tata Sons. The change in assessment reflects the greater operational integration and cohesiveness within the Tata group in recent years. In our view, this greater operational integration increases the longer-term commitment of Tata Sons to group entities as well as the incentive to provide support,' the credit rating agency said. Tata Power's integration within the group has strengthened in particular from the execution of energy transition strategies by various group companies and Tata Motors' growth in the electric vehicle (EV) business. These strategies include setting up of solar power plants for Tata Motors, Tata Steel, Tata Electronics, among others. Tata Power also assists with setting up the charging infrastructure to support Tata Motors' EV business and joint bidding with Tata Motors for commercial EV projects. Our assessment does not presume Tata Sons will step in with extraordinary support for deleveraging or rating preservation. But we believe it will provide strong support in the event of credit stress, based on precedents. Tata Power also benefits from being part of the Tata group, particularly via enhanced funding access,' the credit rating agency added. Tata Power is an India-based integrated power company with generation, distribution, and transmission businesses. The company has generation capacity of close to 14.7 GW, with a mix of thermal (including Mundra plant's 4.2 GW coal-fired capacity), hydro, wind, and solar power. It also holds minority stakes in Indonesian coal mines. The scrip rose 0.50% to currently trade at Rs 424.30 on the BSE. Powered by Capital Market - Live

The domestic equity benchmarks ended with robust gains on Wednesday, snapping a three-day declining streak. The Nifty settled near the 24,300 level. All the sectoral indices on NSE ended in the green with oil & gas, metal and media shares gaining the most. As per provisional closing, the barometer index, the S&P BSE Sensex, was up 874.94 points or 1.11% to 79,468.01. The Nifty 50 index gained 304.95 points or 1.27% to 24,297.50. The broader market outperformed the headline indices. The S&P BSE Mid-Cap index jumped 2.63% and the S&P BSE Small-Cap index gained 2.39%. The market breadth was strong. On the BSE, 2,988 shares rose and 945 shares fell. A total of 98 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 13.72% to 16.17. IPO Update : The initial public offer (IPO) of Brainbees Solutions received 1,24,09,504 bids for shares as against 4,96,39,004 shares on offer, according to stock exchange data at 11:15 IST on Tuesday (06 August 2024). The issue was subscribed 0.25 times. The issue opened for bidding on Tuesday (06 August 2024) and it will close on Thursday (08 August 2024). The price band of the IPO is fixed between Rs 440 to Rs 465 per share. An investor can bid for a minimum of 32 equity shares and in multiples thereof. The initial public offer (IPO) of Unicommerce eSolutions received 12,66,99,042 bids for shares as against 1,40,84,681 shares on offer, according to stock exchange data at 11:15 IST on Tuesday (06 August 2024). The issue was subscribed 9 times. The issue opened for bidding on Tuesday (06 August 2024) and it will close on Thursday (08 August 2024). The price band of the IPO is fixed between Rs 102 to Rs 108 per share. An investor can bid for a minimum of 138 equity shares and in multiples thereof. Buzzing Index: The Nifty Oil & Gas index gained 3.06% to 12,973.85. The index tumbled 5.16% in the past three trading sessions. Oil India (up 8.52%), Oil & Natural Gas Corpn (up 7.84%), Castrol India (up 5.79%), GAIL (India) (up 4.73%) and Indian Oil Corporation (up 3.17%), Bharat Petroleum Corporation (up 2.73%), Hindustan Petroleum Corporation (up 2.73%), Mahanagar Gas (up 2.63%), Indraprastha Gas (up 2.33%) and Petronet LNG (up 2.2%) advanced. On the other hand, Gujarat State Petronet (down 1.12%), Gujarat Gas (down 1.05%) and Aegis Logistics (down 0.2%) edged lower. Stocks in Spotlight: Tata Power Company declined 1.37% after the company's consolidated net profit decreased marginally to Rs 970.91 crore in Q1 FY25 as compared with Rs 972.49 crore in Q1 FY24. Revenue from operations grew 13.67% to Rs 17,293.62 crore during the first quarter as compared with Rs 15,213.29 crore in the corresponding quarter last year. Lupin rallied 4.69% after the company's consolidated net profit jumped 76.01% to Rs 801.31 crore during the quarter as compared with Rs 452.26 crore posted in Q1 FY24. Revenue from operations increased 16.28% YoY to Rs 5,514.34 crore during the quarter. Gland Pharma slipped 4% after the company's consolidated net profit declined 25.94% to Rs 143.76 crore in Q1 FY25 as compared with Rs 194.10 crore in Q1 FY24. Revenue from operations jumped 15.97% YoY to Rs 1,401.70 crore in Q1 FY25. Bata India fell 3.61%. The company's consolidated net profit surged 62.84% to Rs 174.06 crore in Q1 FY25 as against Rs 106.89 crore posted in Q1 FY24. However, revenue from operations declined 1.41% year on year (YoY) to Rs 944.63 crore in the quarter ended 30 June 2024. Gulf Oil Lubricants India surged 6.17% after the company's consolidated net profit jumped 28.89% to Rs 88.02 crore in Q1 FY25 as compared with Rs 68.29 crore posted in corresponding quarter last year. Revenue from operations increased 9.04% YoY to Rs 885.07 crore during the quarter. PI Industries gained 3.82% after the pesticides maker registered 17.21% increase in consolidated net profit to Rs 448.8 crore on 8.3% rise in revenue to Rs 2,068.9 crore in Q1 FY25 as compared with Q1 FY24. Pidilite Industries added 3.20% after the company's consolidated net profit jumped 21% to Rs 571.27 crore during the quarter as compared with Rs 473.69 crore posted in corresponding quarter last year. Revenue from operations increased 3.67% YoY to Rs 3,395.35 crore during the quarter. Cummins India jumped 6.17% after the company's standalone net profit increased 33% to 419.8 crore on 4.02% rise in revenue from operations to Rs 2,262.03 crore in Q1 FY25 over Q1 FY24. Alembic Pharmaceuticals advanced 2.74% after the company received final approval from the US Food & Drug Administration (US FDA) for its abbreviated new drug application (ANDA) Acitretin Capsules. Global Markets: European and Asian stocks advanced on Wednesday, recovering from sharp losses earlier in the week. Japan's markets surged following encouraging comments on interest rates from the Bank of Japan. However, lingering concerns about a global economic slowdown tempered overall sentiment. Bank of Japan (BoJ) Deputy Governor Shinichi Uchida said on Wednesday the central bank won't raise interest rates when financial markets are unstable. Regional markets drew support from a strong Wall Street close, though the U.S. recovery remained fragile after Monday's steep decline. Recent comments from Federal Reserve officials alleviated immediate recession fears, boosting investor confidence. The S&P 500 and Nasdaq rallied 1% on Tuesday, erasing some of the previous day's losses. The Fed has indicated that interest rate cuts might be necessary to prevent a recession, indicating a cautious outlook. The Dow Jones Industrial Average gained 294.39 points to close at 38,997.66, while the S&P 500 rose 53.7 points to 5,240.03. The Nasdaq Composite added 166.77 points, ending at 16,366.86. Powered by Capital Market - Live