Tata Power Share Price (Image Source: iStockphoto)
On Wednesday, Tata Power shares surged, trading at Rs 408.90, marking a 0.48 per cent increase from the previous day’s closing. The shares have demonstrated remarkable growth, yielding over 100 per cent returns in the past year. With a 52-week high of Rs 433.30 and a low of Rs 192.05, Tata Power remains a robust performer in the market.
TP Saurya Limited’s Solar Project
In a recent development, TP Saurya Limited, a subsidiary of Tata Power Renewable Energy Limited, proudly announced the successful commissioning of a 200MW solar project in Bikaner, Rajasthan. This project, executed for Tata Power Trading Company Limited, is anticipated to generate an impressive 485 million units of energy annually. It aligns seamlessly with Tata Power’s mission to contribute significantly to India’s renewable energy capacity.
Overcoming Challenges for Sustainable Energy
Despite facing various challenges, including adverse weather conditions and geopolitical hurdles, the project was completed within the designated timeline. This achievement underscores Tata Power Renewable Energy Limited’s unwavering commitment to sustainable energy solutions and marks a significant milestone in the renewable energy landscape.
Expansion of Renewable Energy Capacity
With this addition, Tata Power Renewable Energy Limited’s total renewables capacity has reached 9,018 MW, including 4,547 MW projects under various stages of implementation. Its operational capacity stands at 4,471 MW, comprising 3,444 MW solar and 1,027 MW wind projects.
Tata Power Share Price Target 2024
Market analyst VLA Ambala views Tata Power as a quality stock with the potential to be a part of any investment portfolio. The bullish sentiment recommends holding and adding more at the current price, with a target price ranging from Rs 420 to Rs 550. The suggested holding period is between 15 days to 150 days, with a stop loss set at Rs 380.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. TT Research DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
