Tata energy rises by 21% in 4 days in case of heavy volumes; Arrow reaches a record level

Shares of Tata Power hit a new record high at Rs 287.90, up 5 per cent on the BSE index in Wednesday’s trading on Wednesday with weakness on the back of high volume due to improved business outlook. By comparison, the S&P BSE Sensex was down 0.7 percent at 59,742.

Electric utility company Tata Group’s stock is up 21 percent in the past four trading days. On Tuesday, it surpassed its previous high of Rs 269.70 touched on October 19, 2021. Trading volume at the counter nearly doubled with around 69 million shares of shares traded on the stock exchange and exchange as of 09:50 AM.

Tata Power’s main focus is on renewable energy sources, transmission and distribution as well as customer-centric businesses of solar rooftops, solar pumps, micro-grids, electric vehicle (EV) charging, energy services, home automation, floating solar and more. The company is considered a leader in most of the renewable energy sectors in the country. It is the leading manufacturer of rooftop solar installations and solar water pumps and has a dominant position in the growing electric charging stations market in India.

Tata Power already has a partnership with Apollo Tires, HPCL, TVS Motors, amã Stays & Trails and others to set up and enhance the electric vehicle charging infrastructure.

For the Oct-Dec quarter (Q3FY22), Tata Power posted 74 per cent YoY growth in consolidated net profit at Rs.552 crore versus Rs.318 crore in Q3FY21 on the back of strong overall business performance. In all sectors.

The company’s consolidated revenue increased by 42 per cent to Rs.11,015 crore from Rs.7,756 crore in the third quarter of FY21 due to expanded operations at Odisha DISCOMs, higher project execution by Tata Power Solar Systems, and strong performance of all businesses. other.

The well-defined ESG framework/objectives and its implementation at Tata Power are on the right track. The company’s focus is on growth in solar/wind generation capacity, structured electricity transmission/distribution, and positive new business in ESG such as electric vehicle charging, solar mini-grids, rooftop solar and solar EPC. Regulated companies provide consistent profits and cash flow, JPMorgan said in a recent report. The brokerage said a steady improvement in operating cash flow is likely to fund equity requirements for capital growth along with monetization of potential assets, i.e. unlocking both non-core and value assets in renewables.

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