The company signed the MoU for the development of three pumped storage hydro projects of 5,700 MW capacity in the state of Maharashtra. The projects would entail an investment of about Rs. 27,000 crore and would provide employment to approximately 13,500 people during the construction period.
The consolidated net profit in the fiscal 2022-23 rose to Rs 2,164.67 crore from Rs 458.70 crore in the previous fiscal.
Suzlon will install 100 wind turbine generators with a hybrid lattice tubular tower and a rated capacity of 3 MW each. The project is located in Karnataka and expected to be commissioned in 2025.
Torrent Power owns 100 per cent equity in the TU14.
Torrent Power quoted 13.70 rupees per unit price for supply of 770-megawatts each for 45 days in April and May from two of its gas-based projects in the western state of Gujarat, the sources said.
Torrent Power shares rallied 5 percent to Rs 511, after downtrend from Rs 550 on March 17 till Rs 487 on March 27. The stock has formed robust bullish candlestick pattern on the daily scale with above average volumes. In a single day rally, it clawed back above 50/100/200-day EMAs.
Geojit recommended accumulate rating on Torrent Power with a target price of Rs 550 in its research report dated March 28, 2023.
In November 2022, UltraTech Cement registered a breakout from Inverse Head & Shoulder price pattern which is bullish reversal signal and indicates bullish bias in price for medium term trend.
The integrated power player is expected to be one of the prime beneficiaries of the government's thrust on the clean energy transition. It has a presence across the entire power value chain, including generation, transmission and distribution, and seems to be well-positioned to capitalise on the opportunities in the sector, believe analysts.
The enthusiasm in the stock seen on February 15 was driven by the company’s strong growth in revenue and net profit. The power company's net profit surged 88 percent to Rs 694.54 crore in the December quarter
About 1,722 shares advanced, 1,657 shares declined, and 129 shares were unchanged on February 15
The company’s board has approved an interim dividend of Rs 22 per equity share for FY 2022-23, which includes a special dividend of Rs 13 per equity share
The company had clocked a net profit of Rs 369.45 crore in the October-December period of fiscal 2021-22, Torrent Power Ltd said in a regulatory filing. Total income rose to Rs 6,526.44 crore in the December quarter from Rs 3,833.14 crore in the year-ago period.
GAIL India shares hit Rs 100 mark after a long time and rallied more than 3 percent to Rs 102.25, the highest closing level since May 20, 2022 and has formed long bullish candle on the daily charts with strong volumes, with higher high formation for fifth consecutive session.
NSE said no contracts will be available for trading in Firstsource Solutions and Torrent Power with effect from March 31, 2023, the first day of the April series.
Net Sales are expected to increase by 70 percent Y-o-Y (down 4.4 percent Q-o-Q) to Rs. 6,405 crore, according to HDFC Securities.
Virescent Renewable Energy Trust trust has 16 operational solar power projects across seven states. If the deal goes through, it will be the first sale of an infrastructure investment trust in India, a report in ET has said
According to the report, the company is in talks to seal the deal amounting to $1.2 billion and has submitted a non-binding provide (NBO) for ReNew’s photo voltaic and wind energy belongings of 350 megawatts (MW) and 750MW, respectively, at a fairness worth of around $450 million.
The company is acquiring Curatio Healthcare at 6.9 times FY 23 estimated sales and 23 times operating earnings
There could be some kind of weakness or profit-booking in the coming sessions, followed by high possibility of consolidation and volatility, before showing any upward direction towards 18,000 mark, experts said