Tata Power announced the signing of a landmark Memorandum of Understanding (MoU) with the Government of Rajasthan during the ongoing Rising Rajasthan Investor Meet in New Delhi with an investment plan of ~₹1.2 lakh crore. This ambitious 10-year plan aims to support Rajasthan's transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply with investments in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging. The MoU will place Rajasthan at the heart of the nation's clean energy transition, contributing significantly to India's energy goals.Powered by Capital Market - Live

Tata Power Company announced that there was a fire incident in the Control Room of Unit No. 5 (500 MW unit) of Trombay Plant on 23 September 2024. The cause of the fire is currently under investigation, and no injuries or loss of life have been reported. Powered by Capital Market - Live

Tata Power Company Ltd gained for a third straight session today. The stock is quoting at Rs 469.5, up 3.31% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.06% on the day, quoting at 25955.35. The Sensex is at 84969.64, up 0.05%. Tata Power Company Ltd has risen around 11.12% in last one month. Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has risen around 0.14% in last one month and is currently quoting at 43370.5, up 0.83% on the day. The volume in the stock stood at 248.57 lakh shares today, compared to the daily average of 132.47 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 471.4, up 3.59% on the day. Tata Power Company Ltd is up 82.76% in last one year as compared to a 31.92% spurt in NIFTY and a 61.34% spurt in the Nifty Energy index.The PE of the stock is 57.59 based on TTM earnings ending June 24.Powered by Capital Market - Live

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