Tata Power's subsidiary inks contract with NTPC; here is how the stocks are faring
At around 10:48 a.m., shares of Tata Power traded 1.71 per cent or Rs 5.7, higher on the BSE at Rs 338.9 apiece. The market capitalisation of the company stood at Rs 1,08,258.10 crore at around the same time.
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Shares of Tata Power gained over 2 per cent on the BSE, snapping a two-day losing streak on Monday, December 18. Buying in the stock was seen after Tata Power's subsidiary signed a contract to supply 152 MWp DCR solar PV modules to NTPC. Meanwhile, shares of NTPC traded lower on the BSE.
At around 10:48 a.m., shares of Tata Power traded 1.71 per cent or Rs 5.7, higher on the BSE at Rs 338.9 apiece. The market capitalisation of the company stood at Rs 1,08,258.10 crore at around the same time.
On the other hand, shares of NTPC were down 0.54 per cent, or Rs 1.65, at Rs 303.5 apiece. The market capitalisation of the company stood at Rs 2,94,293.82 crore at around the same time.
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On December 15, after market hours, Tata Power, through a regulatory filing, stated that its subsidiary, Tata Power Solar Systems Limited, signed a contract with NTPC Limited.
"Tata Power Solar Systems Limited (TPSSL), a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL), one of the leading renewable energy players in India, is pleased to announce that it has signed a contract to supply 152 MWp DCR Solar PV Modules for NTPC Limited's (NTPC’s) Nokh Solar PV Project in Rajasthan," the filing read.
The project holds a significant order value of approximately Rs 418 crore.
The company further informed that NTPC is developing 3*245 MW (735 MW) Nokh Solar Park at Pokaran, Jaisalmer, Rajasthan. The entire project will utilise DCR-category Bi-Facial Mono-PERC modules. The solar panels, including the solar cells and modules, of these DCR Solar PV modules are being manufactured in India in adherence to the Domestic Content Requirement policy.
TPSSL’s Solar Cell and Module Manufacturing Plant in Bengaluru will supply 152 MWp DCR Solar PV Modules for this project.
Tata Power and NTPC share price: Past performance
Since January 2023, shares of Tata Power have gained over 59 per cent and NTPC shares have risen over 8 per cent against the Nifty50's rise of 18 per cent.
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