Tata’s power share

The Tata Group’s stock has been on a tear for the past few weeks. In the current run-up, the majority of Tata equities have gained between 25 and 50 percent.

Tata Power is another one of these equities that has been on a tear. Tata Power’s shares have risen 70% in the last month due to a surge in volumes and the stock market’s bull run.

On October 18, 2021, Tata Power reached a 52-week high of 269.7. The company’s stock price has increased by 314 percent in the last year.

During the first half of October, India’s electricity consumption increased by 4.9 percent, with supply falling short by 1.4 percent.

According to a Reuters examination of government data, this is despite a 3.2 percent increase in coal-fired generation and a 30 percent increase in solar output.

Following the second wave of the coronavirus, increased economic activity has increased electrical consumption, resulting in a supply gap due to a coal shortage. The government, on the other hand, has just assured enough coal supplies.

As a result, the rising urban population is attempting to move their attention in the future toward an economical, clean, and reliable electricity supply. As a result, the electricity industry has a lot of room for expansion.

It is good to know that that the Tata Power is the country’s largest renewable energy company, with 2.6 GW of renewable energy capacity spread across 11 states.

By 2025, the corporation wants to increase its renewable energy generation to a whopping 15 GW.

Renewable energy currently accounts for 30% of total capacity; by 2030, the goal is to increase renewable output to 80%.

Tata Power’s stock has also got boosted by recent orders and deals in the solar power sector.

Tata Power Solar, a Tata Power subsidiary, recently received contracts to install 100 megawatts (MW) of distributed generation (DG) capacity on behalf of Maharashtra’s state-run energy efficiency services (EESL).

A Letter of Award (LoA) got also issued to the subsidiary for engineering, procurement, and construction (EPC) work on numerous projects totaling $5.4 billion.

Tata Power Solar recently secured EPC orders worth $6.9 billion from NTPC to build solar photovoltaic (PV) projects in June 2021.

This is all about Tata Shares. Feel free to connect with us in the comment section below!!

By Vil Joe

A writer and editor based out of San Francisco, Vil has worked for The Wirecutter, PCWorld, MaximumPC and TechHive. Her work has also appeared on InfoWorld, MacWorld, Details, Apartment Therapy and Broke-Ass Stuart. In her spare time, she takes too many pictures of her cats, watches too much CSI and obsesses over her bullet journal.

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