Tata Power shares gain on updating power capacity in Mumbai

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New Delhi | Updated: December 17, 2015 4:28:05 PM

Tata Power share price gained over 4 per cent intra-day on Thursday after the company announced the completion of uprating 220kV line

Tata Power, Sensex, Mumbai CityTata Power share price gained over 4 per cent intra-day on Thursday after the company announced the completion of uprating 220kV line

Tata Power share price gained over 4 per cent intra-day on Thursday after the company announced the completion of uprating 220kV line that relieve critical loading of the Kalwa-Salsette lines and will enhance firm transmission capacity for bringing power from outside to Mumbai.

At 3.01 pm, the share price of Tata Power was trading 3.95 per cent up at Rs 64.50. The scrip opened at Rs 62.50 and had touched a high and low of Rs 64.75 and Rs 62.25, respectively in trade so far. Sensex was up 1.06 per cent at 25,764.52.

Later, the scrip closed 4.03 per cent up at Rs 64.55.

In a release, the power distributor said, “The acute shortage of power has made it necessary for power to be imported from outside the city. The transmission network, especially 220 KV Kalwa-Salsette lines, is critically loaded most of the time due to reduction in embedded generation in Mumbai. To reduce the critical loading of these lines, Tata Power had put a proposal to Maharashtra State Load Despatch Centre and State Transmission Utility for augmenting transmission capacity between Kalwa and Salsette.”

The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 92.40 on 02-Feb-2015 and a 52 week low of Rs 55.55 on 07-Sep-2015.

Last one week high and low of the scrip stood at Rs 64.75 and Rs 61 respectively. The current market cap of the company is Rs 17,269.06 crore.

The promoters holding in the company stood at 33.02 per cent while institutions and non-institutions held 50.98 per cent and 16 per cent respectively.

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