Tata Power gains on applying to expand electricity distribution in Maharashtra
The company has filed for a license across key growth regions, including parts of Mumbai, Pune, Sambhaji Nagar and Nashik
Tata Power Company is currently trading at Rs 409.50, up by 4.00 points or 0.99% from its previous closing of Rs 405.50 on the BSE.
The scrip opened at Rs 406.50 and has touched a high and low of Rs 411.45 and Rs 406.40 respectively. So far 105078 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 1 has touched a 52-week high of Rs 494.85 on 27-Sep-2024 and a 52-week low of Rs 326.25 on 17-Feb-2025.
Last one week high and low of the scrip stood at Rs 411.45 and Rs 384.60 respectively. The current market cap of the company is Rs 130721.34 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 25.58% and 27.55% respectively.
Tata Power Company has applied to distribute electricity to various pockets of Maharashtra as part of its efforts to expand beyond the financial capital. The company has filed for a license across key growth regions, including parts of Mumbai, Pune, Sambhaji Nagar and Nashik. Through amendments made to the Electricity Act, private distribution companies are allowed to apply to serve various parts. However, they were hesitant to apply due to the high investments required for setting up such infrastructure.
In the application submitted before the Maharashtra Electricity Regulatory Commission (MERC), seeking the grant of a distribution license to serve key regions across the state, the Tata Group company has evinced interest in serving areas like Chhatrapati Sambhaji Nagar, Badnapur, Jalna Taluka, Waluj MIDC, Nashik, Sinnar, Igatpuri, and Trimbak Talukas.
It is also keen to serve the Municipal Corporation of Greater Mumbai (MCGM), Thane Municipal Corporation (TMC), Navi Mumbai Municipal Corporation (NMMC), Panvel Municipal Corporation (PMC), and the entire corridor from PMC to Jawaharlal Nehru Port Authority (JNPA). Tata Power is also keen on serving the Pune region, including Pune City, Haveli, Maval, Mulshi, and Khed Talukas.
Tata Power Company is India’s largest integrated power company. It is a pioneer credited with steering the energy sector on technology, process and platform.
