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.Powered by Capital Market - Live

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. 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. Buzzing Index: 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. Stocks in Spotlight: 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). Powered by Capital Market - Live

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. Powered by Capital Market - Live

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.Powered by Capital Market - Live

Securities in F&O Ban: Aarti Industries, Aditya Birla Fashion Retail, GNFC, Granules, Hindustan Copper are banned from F& O trading on 18 November 2024. Stocks to Watch: Hero Motocorp reported 14.2% increase in consolidated net profit to Rs 1,203.54 crore on 10.8% rise in revenue from operations to Rs 10,463.21 crore in Q2 FY25 over Q2 FY24. Nazara Technologies reported a 47.56% decline in consolidated net profit from continuing operations to Rs 11.80 crore despite 7.3% increase in revenue from operations to Rs 318.94 crore in Q2 FY25 over Q2 FY24. Lemon Tree Hotels' consolidated net profit jumped 32.79% to Rs 35.03 crore on 23.96% increase in revenue from operations to Rs 284.36 crore in Q2 FY25 over Q2 FY24. Suraj Estate Developers has reported 88.1% jump in consolidated net profit to Rs 31.8 crore in Q2 FY25 from Rs 16.9 crore posted in Q2 FY24. Total income rose by 5.7% year-over-year (YoY) to Rs 109.6 crore in the second quarter. Glenmark Pharmaceuticals reported consolidated net profit from continuing operations of Rs 354.49 crore in Q2 FY25 as against net loss of Rs 180.3 crore in Q2 FY24. Revenue from operations increased 2.29% year on year (YoY) to Rs 3,133.79 crore in the quarter ended 30 September 2024. Grasim Industries reported 66.5% drop in consolidated net profit to Rs 389.90 crore in Q2 FY25 as compared with Rs 1,163.75 crore posted in Q2 FY24. Revenue from operations increased 11.06% YoY to Rs 33,562.85 crore in second quarter of FY25, driven by the superior performance of financial services, cellulosic staple fibre and specialty chemicals businesses. Honasa Consumer (Mamaearth) reported a consolidated net loss of Rs 18.57 crore in Q2 FY25 as against net profit Rs 29.43 crore recorded in Q2 FY24. Revenue from operations declined 6.90% YoY to Rs 461.82 crore in the quarter ended 30 September 2024, while revenue adjusted for inventory correction was Rs 525 crore with the growth rate of 5.7% YoY. Bajaj Healthcare reported standalone net profit of Rs 94.64 crore in Q2 FY25 as compared with net loss of Rs 34.60 crore in Q2 FY24. Revenue from operations jumped 31.5% YoY to Rs 133.08 crore in Q2 FY25. GAIL (India) has signed a 10-year sales and purchase agreement (SPA) with ADNOC Gas for the delivery of up to 0.52 million metric tonnes per annum (MMTPA) of liquified natural gas (LNG), starting in 2026. This is the first SPA of ADNOC Gas with an Indian buyer. Tata Power Company has acquired 100% stake in ERES-XXXIX Power Transmission (ERES-XXXIX), a special purpose vehicle (SPV) for total consideration of Rs 18.56 crore Powered by Capital Market - Live

Tata Power Company has signed the Share Purchase Agreement ('SPA') and acquired 100% equity stake in ERES-XXXIX Power Transmission (ERES-XXXIX), a special purpose vehicle (SPV). The Company is a SPV formed in 27 March 2024, specifically to establish the transmission system for ERES-XXXIX Power Transmission (Gopalpur, Odisha) which comprises Angul to Gopalpur ~190 km of 765 KV D/C line, Gopalpur 765/400 KV GIS substation, Bay Ext. at Angul (765 KV AIS) and at OPTCL-Gopalpur (400 KV GIS S/s to be developed by OPTCL). Also, there is a ~12 km of 400 KV D/C line from OPTCL (Gopalpur) 400 KV GIS S/s to Gopalpur 765 KV GIS S/s. The schedule date of commercial operation (SCOD) of the said SPV will be on 31 December 2027. Powered by Capital Market - Live

Tata Power Company Ltd is down for a fifth straight session today. The stock is quoting at Rs 402.2, down 2.89% on the day as on 12:59 IST on the NSE. The benchmark NIFTY is down around 0.94% on the day, quoting at 23659.1. The Sensex is at 78018.99, down 0.83%.Tata Power Company Ltd has lost around 13% in last one month.Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has eased around 10.14% in last one month and is currently quoting at 37705.65, down 1.02% on the day. The volume in the stock stood at 70.1 lakh shares today, compared to the daily average of 112.82 lakh shares in last one month. The benchmark November futures contract for the stock is quoting at Rs 403, down 2.8% on the day. Tata Power Company Ltd jumped 55.17% in last one year as compared to a 20.25% rally in NIFTY and a 31.64% spurt in the Nifty Energy index.The PE of the stock is 42.44 based on TTM earnings ending September 24.Powered by Capital Market - Live

Yamuna International Airport (YIAPL), a wholly-owned subsidiary of Zurich Airport International AG, developed in close partnership with the Government of Uttar Pradesh and the Government of India, has selected Tata Power Company (Tata Power) to meet a substantial portion of the Noida International Airport's (NIA) energy requirements through renewable sources. Additionally, YIAPL has engaged Tata Power for the development of dry utilities (electrical infrastructure) for the airport and its operation and maintenance for a 25-year term. The value of the contract is Rs 550 crore. Powered by Capital Market - Live

Tata Power Company has signed the share purchase agreement and acquired 100% equity stake in Paradeep Transmission, a special purpose vehicle. The acquisition process was completed on 06 November 2024. The company is a special purpose vehicle formed on 30 November 2023, specifically to establish the transmission system for Eastern Region Expansion Scheme-XXXIV (Paradeep Transmission Limited) which comprises Angul to Paradeep ~190 km of 765 KV D/C line, Paradeep 765/400 KV GIS substation, Bay Ext. at Angul (765 KV AIS) and at OPTCLParadeep (400 KV GIS). There is also a ~12 km of 400 KV D/C line from OPTCL (Paradeep) 400 KV GIS S/s to Paradeep 765 KV GIS S/s. Powered by Capital Market - Live

Profit before tax (PBT) jumped 44.06% YoY to Rs 1,772.87 crore during the quarter. EBITDA during the quarter rose 23% to ₹ 3,808 Crore on the back of ramped-up solar manufacturing, favorable regulatory development in distribution, and operational efficiency across businesses. On segmental front, revenue from transmission and distribution business stood at Rs 10,207.10 crore (up 7.97% YoY) while revenue from Renewables stood at Rs 1,913.46 crore (down 10.82% YoY). Praveer Sinha, CEO and managing director, Tata Power, said, 'Our Generation, Transmission & Distribution, and Renewable businesses continue to witness sustained growth momentum as India sees record power demand and investment in the new Age of Electricity. All our business segments have performed remarkably well during the quarter leading to 20th consecutive quarterly PAT growth. Aligned with the 'Make in India' vision, our 4.3 GW cell-and-module plant in Tamil Nadu is going strength-to-strength with the commissioning of a 2 GW cell production line during the quarter. The cell plant will achieve its full capacity by next month. The 4.3 GW module plant is already fully operational establishing us as a leader in solar manufacturing. We have made significant strides in the transmission business with major wins in both Inter-State and Intra-State projects, showcasing our strong project execution capabilities in upgrading grid infra. These projects will help evacuate clean energy from remote renewable sites, to support widescale renewable energy availability. We are mainstreaming the wide-scale adoption of solar rooftops in residential, commercial and industrial segments through our pan-India presence. We are also powering e-mobility in 590 cities, covering private, public, semi-public, and fleet charging. We are well on track in terms of our planned Capex for the financial year, with ₹ 9,100 Crore spent during H1 out of ₹ 20,000 Crore. Our investments in transmission, renewables, and hydro projects are designed to strengthen India's energy resilience and security.' 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.Powered by Capital Market - Live