Tata Power surges ahead of CERC verdict on tariff revision
The company is seeking a revision of about Re 1 per unit from Mundra Ultra Mega Power Project
Tata Power Company has surged 7% to Rs 110 ahead of the Central Electricity Regulatory Commission (CERC) final hearing on the tariff revision plea of the company for the 4,000 MW Mundra Ultra Mega Power Project (UMPP) later today.
Coastal Gujarat Power Ltd, a Tata Power company that operates the Mundra UMPP, had approached the CERC seeking a mechanism to offset the increase in cost of production by passing it to the buyers. The company is seeking a revision of about Re 1 per unit from this project, the media report suggests.
The stock opened at Rs 103 and touched high of Rs 111 on the BSE. A combined 7.3 million shares have changed hands on the counter so far against an average 6.3 million shares that were traded daily in past two weeks on the BSE and NSE.