400 per cent returns: This power company bags a new order worth Rs 1,744 crore from Chhattisgarh State Power Distribution Company!

The stock has returned more than 11 per cent in the last six months.

Tata Power has received a letter of award to implement the smart metering project in Chhattisgarh State Power Distribution Company (CSPDCL). The LOA has been issued in conclusion to the tender floated by CSPDCL for three packages for different areas under the Chhattisgarh Discom. Tata Power participated in package 2 and emerged as a winner. The value of the project awarded to Tata Power is around Rs 1,744 crore and the project will be spanned over a period of 10 years.

The Project shall include design, supply, installation, and commissioning followed by operation and maintenance of smart meters at the consumer end and at the distribution transformers level. The project will be executed under Revamped Distribution Sector Scheme (RDSS) and is expected to improve the AT&C losses in the designated area and increase revenue collection for CSPDCL.

Tata Power Company Limited is primarily involved in the business of the generation, transmission, and distribution of electricity. It aims to produce electricity completely through renewable sources.

On Thursday, the stock opened at Rs 225.00, with a high and low of Rs 230.25 and Rs 223.65. The stock closed trading at Rs 229.55, up by 3.56 per cent.

The stock has delivered multibagger returns of more than 400 per cent in the last three years and investors should keep a close eye on this stock.