DSIJ Mindshare

On Wednesday, the GIFT Nifty suggests a neutral opening for the benchmark indices, with a slight increase of 12 points. The futures are currently positioned at 19,869 points.

At the current market price, this translates to an attractive dividend yield of 4.52 per cent. Additionally, the stock boasts an impressive Return on Capital Employed (ROCE) of 60.8 per cent, reflecting its efficient utilization of invested capital.

Market sentiment appears positive with 1265 advancing stocks against 576 declining stocks.

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.

The price band of the issue has been fixed at Rs 285 to Rs 300 per equity share. The issue size is Rs 686.55 crore at a higher price band.