Tata Power Share Price | Earning will come from rocket speed, Tata Power share will be affected, beneficial update – NSE: TATAPOWER
Tata Power Share Price | There has been a positive update on Tata Power Company Limited Company. Tata Group's Tata Power Limited (NSE: TATAPOWER) has bought 40 percent stake in Bhutan-based Khorlochhu Hydro Power Limited. Tata Power Limited informed the stock market about the acquisition on Monday. Tata Power Company shares were trading at Rs 420.30, down 1.27 per cent on Tuesday, October 29. (Tata Power Company share)
what did the company say
The board of directors of Tata Power Company Limited had proposed to purchase 40% stake in Khorlochu Hydro Power Limited. Tata Power on Monday signed an agreement to buy shares from KHPL and KHPL shareholders. On Wednesday (30 October 2024), the stock was trading at Rs 431, up 1.36%.
Focus on renewable energy sector
Tata Power Limited will spend a total of Rs 830 crore to buy the stake. The first phase is expected to be completed by March 31, 2025. Under the agreement, Tata Power Limited will get a stake in the 600 MW project. Tata Power Limited is currently focusing on the renewable energy sector.
How much return did the stock give?
The stock has declined by 6.26% in the last 1 months. The stock has given 75.64% returns in the last 1 year. It has given 606.39% returns in the last 5 years. The stock has given 4020% returns to long term investors. The stock has returned 27.25% on a YTD basis.
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