Market LIVE Updates: Nifty around 17,800, Sensex falls 500 pts; IT, realty, banks under

April 06, 2022 / 11:09 AM IST

AnandRathi’s view on Tata Power

AnandRathi maintained rating on the stock to Buy with a revised target price of Rs 316.

Tata Power Company has collaborated with Rustomjee Group, the leading real estate developer, to provide end-to-end EV charging solutions across all its residential and commercial projects in Mumbai Metropolitan Region (MMR).Under this collaboration, Tata Power will install dedicated charging infrastructure for residents of Rustomjee in Mumbai MMR. Customers can connect through the Tata Power EZ Charge mobile application for all services including remote vehicle charging monitoring & e-payments. The partnership will enable Rustomjee residents’ access to a uniform and ubiquitous EV charging experience.

Tata Power’s Singapore-based JV — Resurgent Power Ventures has won the bid to acquire the stressed asset of South East UP Power Transmission Company (SEUPTCL) through its resolution process under the Insolvency and Bankruptcy Code (IBC). Tata Power holds 26 percent stake in the joint venture through its wholly-owned Singapore-based arm Tata Power International. The transaction is part of a stressed asset resolution process initiated by a resolution professional through a competitive bidding process (held earlier). 

Tata Power’s 100% subsidiary — Tata Power Renewable Energy has commissioned a 300 MW project in Dholera, Gujarat. It is India’s largest single-axis solar tracker system. The project will generate 774 MUs annually. Along with this, it will reduce approximately 704340 MT/year of carbon emission.  

Tata Power Solar Systems (Tata Power Solar), a wholly-owned subsidiary of Tata Power, has commissioned a 160 MW AC solar project at Jet star, Rajasthan. Approximately 6,75,000 monocrystalline PV modules were used in this installation and it will produce 387MUs of energy per year. From the recent development we expect the company’s performance to improve from current levels. 

Read More: Market LIVE Updates: Nifty around 17,800, Sensex falls 500 pts; IT, realty, banks under

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