Tata Power Edges Higher After Winning Rs 686 Crore Order From NTPC
Share price of Tata Power Solar edged marginally higher by around one per cent on Thursday, June 3, a day after the company bagged an engineering, procurement and construction (EPC) contract for Rs 686 crore NTPC Limited to set up solar photovoltaic (PV) projects. On Thursday, Tata Power opened on the BSE at Rs 110.25, registering an intra day high of Rs 110.50 and an intra day low of Rs 107.90, in the trading session so far. According to a regulatory filing by the firm to the BSE, Tata Power received a letter of award (LoA) to build 210 MWp of solar PV projects for NTPC.
According to the statement, the total order value of the projects is approximately Rs 686 crore. The commissioning date for NTPC is set as November 2022. Tata Power Solar is the country's largest integrated solar company.
With the current contract, the order pipeline of Tata Power Solar stands at around 2.8 GW with an approximate value of Rs 13,000 crore. The scope of the project includes transmission, land, engineering, installation, procurement, as well as commissioning of the solar projects. The NTPC project site is located in Gujarat, said Tata Power Solar in its statement.
On the NSE, Tata Power opened at Rs 110, swinging to an intra day high of Rs 110.50 and an intra day low of Rs 107.90, in the session so far. It was last trading 0.23 per cent higher at Rs 108.35 on the NSE.
Shares of Tata Power were last trading 0.56 per cent higher at Rs 108.65 on the BSE.Â
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