Tata Power Renewable Energy Limited (TPREL), one of India’s leading renewable energy players and a subsidiary of The Tata Power Company Limited has signed a power delivery agreement (PDA) with Supreme Petrochem Limited for a 12.5 MW group captive project through a SPV - TP Saturn Limited. Located in Achegaon, Maharashtra, the plant will generate around 27.5 million units (MUs) of renewable power annually.
On Monday, shares of Tata Power Company Limited plunged 3.62 per cent to Rs 238.30 per share with an intraday high of Rs 248.70 and an intraday low of Rs 236.50. The stock gave multibagger returns of over 300 per cent in just 3 years whereas BSE Sensex Index is up by 59 per cent.
Tata Power Company Ltd is primarily involved in the business of the generation, transmission and distribution of electricity. Investors should keep an eye on this Large-Cap power stock.
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