Shares of Tata Power hit a fresh 52-week high today after the firm commissioned a 160 MW AC solar project at Jetsar in Rajasthan. The stock touched an intraday high of Rs 287.9, 5.23 per cent higher against the previous close of Rs 273.60 on BSE.
The stock has gained 18.34 per cent in the last 4 days. Tata Power Company stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 170 per cent in one year and risen 28 per cent since the beginning of this year.
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In a month, the stock has climbed 27.59 per cent. Total 59.69 lakh shares of the firm changed hands amounting to a turnover of Rs 89.964 crore on BSE. Market cap of the firm rose to Rs 90,108 crore on BSE. The stock hit a 52-week low of Rs 89.95 on April 12, 2021.
“Tata Power Solar, one of India’s largest integrated solar company and a wholly owned subsidiary of Tata Power, commissions a 160MW AC solar project at Jetstar, Rajasthan,” the statement said on Tuesday.
Around 6,75,000 monocrystalline PV modules were used in this installation and it will produce 387 million units of energy per year, the company said.
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The Jetsar project was completed within a period of 15 months. It is one of the largest solar projects in Rajasthan. The project order’s scope includes engineering, design, supply, construction, erection, testing, operation maintenance and commissioning, as per the statement.
The Tata Group firm reported a net profit of Rs 425 crore, up 71.55 per cent for the quarter ended December 31, 2021. The company posted a net profit of Rs 248.21 crore in the year-ago period. The company’s December-quarter sales increased 43.63 per cent to Rs 10,913 crore against Rs 7597.91 crore a year ago.
