Rs 13,018 crore order book: TATA Group-multibagger solar microgrid power stock saw spurt in volume for 2nd straight day on BSE; Recently collaborated with ICICI Bank
The stock is up by 88.1 per cent from its 52-week low of Rs 230.75 per share and gave multibagger returns of 680 per cent in 5 years.
Today, shares of Tata Power Company Ltd gained 0.70 per cent to Rs 430.90 per share from its previous closing of Rs 428 per share with an intraday high of Rs 434.10 and an intraday low of Rs 428.60. The stock’s 52-week high is Rs 470.85 and its 52-week low is Rs 230.75. The shares of the company saw a spurt in volume by more than 2 times on BSE, this spurt in volume is for 2nd straight day.
Recently, Tata Power Solar Systems Limited (TPSSL) has partnered with ICICI Bank to make solar energy more accessible. This collaboration will provide loans to customers who want to buy solar panels for their homes or businesses. ICICI Bank will offer competitive interest rates and flexible repayment terms. Customers can get loans up to Rs 90 lakh without collateral for up to 5 years. Larger loans with collateral are available for up to 20 years.
TPSSL is a leading solar company in India with a strong reputation for quality and customer satisfaction. They have installed solar panels for over 70,000 customers across the country. This partnership with ICICI Bank will help TPSSL reach even more people and promote the adoption of solar energy in India.
About Tata Power Company Ltd
Tata Power, a leading integrated power company under India's largest conglomerate Tata Group, boasts a diverse portfolio of 14,707 MW spanning the entire power spectrum. This includes the generation of both renewable and conventional energy, along with transmission, distribution, trading, storage solutions and even solar cell and module manufacturing. As champions for clean energy, they've committed to achieving carbon neutrality before 2045. Beyond generation, Tata Power has established India's most comprehensive clean energy platform, offering rooftop solar solutions, microgrids, storage solutions, EV charging stations and home automation systems.
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According to the Quarterly Results, the net sales increased by 13.3 per cent to Rs 17,540.98 crore in Q1FY25 compared to the total income of Rs 15,484.71 crore in Q1FY24. The company reported a net profit of Rs 1,188.63 crore in Q1FY25 compared to a net profit of Rs 1,140.97 crore in Q1FY24, an increase of 4.2 per cent. In its annual results, the net sales increased by 10 per cent to Rs 61,542 crore and net profit increased by 12 per cent to Rs 4,280 crore in FY24 compared to FY23. The company has delivered good profit growth of 75 per cent CAGR over the last 5 years and has been maintaining a healthy dividend payout of 23 per cent. The company's overall performance can be attributed to its effective management strategies.
With a robust order book of Rs 13,018 crore as of June 30, 2024, Tata Power is poised for an electrifying future. Tata Power Company Ltd is primarily involved in the business of the generation, transmission and distribution of electricity. The company has a market cap of over Rs 1.30 lakh crore. The stock is up by 88.1 per cent from its 52-week low of Rs 230.75 per share and gave multibagger returns of 680 per cent in 5 years. Investors should keep an eye on this mid-cap power stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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