This power company wins a contract for 1,100 MW power supply!

The company has maintained a healthy dividend payout of 61.2 per cent with a dividend yield of 1.68 per cent.   

Torrent power informed that the company won a contract for 1,100 MW power supply from the Ministry of Power-Government of India.   

The company had participated in the e-tender and awarded 920 MW (770 MW from DGEN plant and 150 MW from SUGEN plant). The cost of power is function of fuel cost (Rs. 8.80/unit with respect to DES LNG cost of $13/MMBTU) and other fixed cost of Rs 4.90 unit including regasification, taxation, transportation, water, power exchange, etc.   

Ministry of Power-Government of India has designated NVVN (NTPC Vidyut Vyapar Nigal Limited) as Nodal agency for procurement of up to 4000 MW power from Gas Based Plants during identified crunch period.  

Today, shares of Torrent Power Ltd plunged 0.04 per cent to Rs 535.20 per share with an intraday high of Rs 545 and an intraday low of Rs 535.10.  

Torrent Power Ltd is a leading integrated power utility company in India with presence across generation, transmission and distribution of power.   

Talking about the financials, this power company has a market cap of Rs 25,723 crore. The company reported positive number in its Quarterly Results and annual results. The company has maintained a healthy dividend payout of 61.2 per cent with a dividend yield of 1.68 per cent.   

The stock has a PE of 22.52x and an ROE of 10.45 per cent.  The stock is up by 2.72 per cent in 5 days, up 1.50 per cent in 1 month and up 11.86 per cent in 6 months. Investors should keep an eye on this stock.