Tata Power likely to show a powerful current on Wednesday; know why!
The stock of Tata Power staged a smart recovery from the lower levels as it opened around the levels of Rs 218
The stock of Tata Power staged a smart recovery from the lower levels as it opened around the levels of Rs 218 and thereafter, made a low of Rs 217.30. However, buying interest emerged at lower levels and the stock managed to close around Rs 223.20 with a modest loss of 0.80 per cent.
The stock is likely to remain in the limelight on Wednesday as after the closing bell today, it revealed that Prayagraj Power Generation Company has inked MoU with ZaaK Technologies for upcycling ash to sustainable sand material.
Prayagraj Power Generation Company Limited (PPGCL) has signed a memorandum of understanding (MoU) with ZaaK Technologies GmbH to jointly establish India’s first Lypors® pilot manufacturing plant at PPGCL.
PPGCL is a wholly-owned subsidiary of Renascent Power Ventures Private Limited incorporated in India, which is in turn, a wholly-owned subsidiary of Resurgent Power Ventures Pte Ltd (a joint venture between Tata Power International Pte Ltd - a wholly-owned subsidiary of Tata Power Company Ltd) and ICICI Bank Ltd as well as other reputed global investors.
The partnership between the PPGCL and ZaaK would create a whole new industry of sustainable construction material by reducing the consumption of precious natural sand resources. This will enable PPGCL to move rapidly towards its goal of adopting sustainable practices in thermal power generation. Lypors® is a sustainable sand material manufactured through a patented process by upcycling a wide range of mineral wastes, including fly ash, pond ash, old-deposited ash & bauxite residue, and is used to produce lightweight concrete, mortar, plaster along with other building products.
The partnership of PPGCL with ZaaK is in alignment with the Ministry of Environment Forest and Climate Change’s draft notification, mandating 100 per cent ash utilisation. The technology will enable the country to manage the gainful utilisation of fly ash.