Tata Power rises after solar rooftop installation at IIC

Tata Power Company gained 2.16% to Rs 59.2 at 11:45 IST on the BSE after the company's subsidiary commissioned solar rooftop installation at India International Centre, New Delhi.

The announcement was made after the market hours yesterday, 5 August 2019.

Meanwhile, the S&P BSE Sensex was up by 143.03 points or 0.39% at 36,842.87.

On the BSE, 1.08 lakh shares were traded in the counter so far compared with average daily volumes of 8.46 lakh shares in the past two weeks. The stock had hit an intraday high of Rs 59.8 and an intraday low of Rs 57.95 so far during the day. The stock hit a 52-week high of Rs 86.15 on 29 October 2018 and a 52-week low of Rs 57.35 on 5 August 2018.

Tata Power Solar, Tata Power Company's wholly-owned subsidiary commissioned 70kW solar rooftop installation at the India International Centre (IIC), New Delhi.

The project will entail energy efficiency of 90,000 kWhr annually, along with reducing carbon emission by 63 tonne. This installation will help India International Centre to save Rs 10 lakh on their electricity bill annually.

Tata Power Company's consolidated net profit declined 90.9% to Rs 151.27 crore on 6.2% increase in net sales to Rs 7766.72 crore in Q1 June 2019 over Q1 June 2018.

Tata Power Company is India's largest integrated private power company having presence in fuel & logistics, generation (thermal, hydro, solar and wind), transmission, distribution and trading.

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