Videsh Sanchar Nigam Ltd has completed the acquisition of the entire stake of Tata Power Company Ltd in Tata Power Broadband Company Ltd.
Will get Rs 830 cr, Rs 329 cr respectively to offset higher coal costs
The market capitalisation of BSE-listed companies eroded by Rs 9,40,581.75 crore to Rs 4,50,61,658.60 crore (USD 4.90 trillion) in a single day.
Market sentiment is likely to remain cautious as investors position themselves for the upcoming Union Budget and the US Fed's interest rate decision, where expectations are muted.
Tata Power, the country's largest private sector power company, plans to foray into the shipping and logistics business in order to facilitate coal procurement for its power plants.
Utilities in the power sector present an interesting investment case at this moment. Most power stocks have lost substantial ground in the past 12 months.
Currently, TPC's own power costs an average Rs 4.50 per unit, while electricity from outside costs between Rs 7 and Rs 12.
Stock markets closed higher on Friday after the Reserve Bank of India kept its benchmark interest rate unchanged as expected and proposed allowing banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
Indian Super League: Jamshedpur FC beat Mohammedan SC 1-0 at home, Bengaluru FC beat Sporting Club Delhi.
Tata Power finally bit the bullet and filed a writ petition in the Bombay high court on Wednesday against the Maharashtra government.
Mumbai electricity consumers do not have to face powercuts for a while. The Maharashtra Cabinet subcommittee chaired by Chief Minister Ashok Chavan on Thursday intervened to resolve the ongoing dispute between Tata Power and Reliance Infrastructure over power purchase.
From the 30-Sensex firms, Maruti, Power Grid, Tata Motors Passenger Vehicles, HDFC Bank, Asian Paints and Tata Steel were among the biggest laggards. However, Titan, HCL Tech, Tech Mahindra, Infosys and Tata Consultancy Services were among the gainers.
India's largest private sector power producer, Tata Power Company, has called off its plan to sell 15 per cent stake in two special purpose vehicles (SPVs) owning coal mines in Indonesia to private equity (PE) firm Olympus Capital for $300 million (Rs1,392 crore).
From the Sensex firms, Tata Steel tanked the most by 4.57 per cent. ICICI Bank, Power Grid, HCL Tech, Tech Mahindra, Infosys and Kotak Mahindra Bank were also among the laggards. Mahindra & Mahindra, State Bank of India, ITC and Bharat Electronics were among the gainers.
The fiscal tilt towards capex benefits companies in investment-related sectors like capital goods, defence equipment, engineering & construction and metal & mining. The planned cut in revenue expenditure will weigh on companies in consumption sectors like FMCG, consumer durables and retail.
Tata Power Company Ltd has signed a development agreement with Germany's Siemens Project Ventures GmbH to jointly bid for ultra mega power projects.
The Supreme Court judgment last week allowing Tata Power to retail power to consumers in Mumbai could pose a few regulatory challenges, experts feel.
Mohun Bagan Super Giant defeated Kerala Blasters 2-0 in the opening match of the Indian Super League season.
Fixes spotlight on in-house talent for retaining and grooming purposes.
People who want to shift from the Reliance Infrastructure network to Tata Power are faccing problems
Surprised at slow progress made over land allotment in Delhi, Tata Power has initiated talks with Haryana and Uttar Pradesh governments for establishing a 1000 MW power plant with a minimum investment of around Rs 4000 crore
Tata Power said on Wednesday completed acquisition of 30 per cent stakes in Indonesian thermal coal producers -- PT Kaltim Prima Coal and PT Arutmin Indonesia, and other related coal trading companies owned by PT Bumi Resources Tbk.
Bharat Electronics, Reliance Industries, Mahindra & Mahindra, Larsen & Toubro, InterGlobe Aviation, ICICI Bank and UltraTech Cement were among the other major gainers. Axis Bank, Infosys, Tata Consultancy Services, Trent and Titan were the laggards.
Tata Power found its counter attracting buyers today after it scored a swell 129% jump in profitability for Q4.
Tata Power will target 10,000 micro grids across India, for which it has formed a company, TP Renewable Microgrid.
As Mumbai's real estate and electric vehicle penetration grows, two of the city's private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers. Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions' Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company's presentation shows. This gain came at over 13 per cent growth in the year-ago period.
Aiming to go global, Tata Power's strategic electronics division said on Friday that it was targeting a ten-fold increase in turnover over the next five years at Rs 450 crore
Driven by mega investment proposals from Tata Power, Adani group, Singapore's Sembcorp Industries and Leap Green Energy, among others, the two-day Global Investors Meet 2024 in Tamil Nadu is expecting an infusion of around Rs 6.64 trillion. This is likely to create around 2.69 million direct and indirect jobs in the state. "Due to our tireless efforts and your participation during this Global Investors' Meet, we have attracted an unprecedented Rs 6.64 trillion of investments.
Tata Power is looking forward to drawing big advantage from Cyrus Mistry taking over as the $100-billion conglomerate's new chief, as he began Tata journey with this company and can relate to the business very well.
Wipro and Tata Power are among the world's most ethical companies, according to American think tank Ethisphere Institute.
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Tata Power sets up camps to explain the benefits of switchover for low-end consumers from their current supplier.
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