Rs 17,643 crore order book: This multibagger power company signs 12.5 MW PDA with Supreme Petrochem Limited!

The stock gave multibagger returns of over 300 per cent in just 3 years whereas BSE Sensex Index is up by 59 per cent.

Tata Power Renewable Energy Limited (TPREL), one of India’s leading renewable energy players and a subsidiary of The Tata Power Company Limited has signed a power delivery agreement (PDA) with Supreme Petrochem Limited for a 12.5 MW group captive project through a SPV - TP Saturn Limited. Located in Achegaon, Maharashtra, the plant will generate around 27.5 million units (MUs) of renewable power annually.

Supreme Petrochem Limited is the market leader in polystyrene and expandable polystyrene in India and is currently putting up an ABS plant (70 KTA) with a continuous mass process and a low-carbon footprint technology. The company is committed to using clean energy to run its production units. The plant is expected to reduce carbon emissions by 20,075 metric tons per annum and is expected to be operational within 8 months of the PDA signing.

On Monday, shares of Tata Power Company Limited plunged 3.62 per cent to Rs 238.30 per share with an intraday high of Rs 248.70 and an intraday low of Rs 236.50. The stock gave multibagger returns of over 300 per cent in just 3 years whereas BSE Sensex Index is up by 59 per cent.

Order Book Updates: The company order book as of June 30, 2023, stands at Rs 17,643 crore and the total capacity as of June 30, 2023, stands at 4,199 MW. The Rooftop Solar and Group Captive Order Book stands at Rs 2,504 crore.

Tata Power Company Ltd is primarily involved in the business of the generation, transmission and distribution of electricity. Investors should keep an eye on this Large-Cap power stock.

Disclaimer: The article is for informational purposes only and not investment advice.