Rs 25,694 crore turnover: This multibagger power generation company launches public EV charging stations in collaboration with SIEMENS!

The stock is up by 30 per cent in 1 year, 106 per cent in 3 years and over 550 per cent in just 5 years.

Torrent Power Ltd. (TPL) a leading electric utility, has forayed into the Electric Mobility Infrastructure Sector. The initial set of 4 EV charging stations have been set up in Ahmedabad and 2 more are likely to be launched in Surat soon with more cities to be added in the near future.

This is a major step towards a greener, cleaner and more sustainable future for the citizens of Ahmedabad and Surat. Electric vehicles emit zero pollutants and have the potential to significantly reduce emissions and improve air quality in our cities. A robust Public EV charging infrastructure is important to drive a revolution in the transportation sector by encouraging people to switch to electric vehicles and making it more convenient for them to do so.

The company has collaborated with SIEMENS for developing the EV Charging network. With a view to providing affordable fast charging facility for the citizens of Ahmedabad, the company is currently offering charging at Rs 12 per unit which is amongst the lowest in the city. An additional discount of 20 per cent on the first charge has also been announced by the company for a limited period.

Locations of Torrent Power’s Public EV Charging Stations in Ahmedabad:

1. Prahladnagar – Plug Point premises, Near Prahladnagar Garden.

2. Naranpura –Torrent Power Naranpura Office.

3. Drive-in Road – Near Saurabh Society.

4. Raipur – Opposite Raipur Darwaja Bus Stand, near Railway Station and ST Bus Stop.

Varun Mehta – Director, of Torrent Power, said “We are working towards creating a widespread EV charging network that is affordable, accessible and convenient for all. By providing a reliable and extensive charging network, Torrent hopes to alleviate range anxiety and promote the widespread adoption of electric vehicles.”

Earlier, Torrent Power was awarded a 115 MW wind project through competitive bidding under SECI Wind Tranche V. With this addition, their renewable capacity reaches 1.18 GW, aligning with the government's target of 500 GW non-fossil fuel capacity by 2030. Additionally, Torrent signed an MoU for 5,700 MW pumped storage hydro projects in Maharashtra, aiming for completion in 5 years.

Torrent Power, with a turnover of Rs 25,694 Crores (approx. USD 3 billion) is the integrated power utility of the diversified Torrent Group with group revenues of Rs 37,600 crore (approx. USD 4.5 billion) and a market cap of Rs 95,000 crore (approx. USD 11.50 billion). It is one of the largest power companies in India with a presence across the entire power value chain of generation, transmission, and distribution.

On Wednesday, shares of Torrent Power surged 3.51 per cent to Rs 632.65 per share with an intraday high of Rs 639.95 and an intraday low of Rs 614.40. The shares of the company saw a spurt in volume by more than 1.50 times on BSE.

The stock is up by 30 per cent in 1 year, 106 per cent in 3 years and over 550 per cent in just 5 years. Investors should keep an eye on this multibagger Large-Cap stock.

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