Tata Power hits over 13-year low on reports co may snap power lines

The Mumbai-based company, which may incur a loss of Rs 1,000 cr from this one unit alone this year, has issued notices to discoms in Gujarat, Haryana, Rajasthan, Punjab & Maharashtra

Shares of Tata Power hit an over 13-year low of Rs 45.35, down 3 per cent, on the BSE in an otherwise firm market on Monday. Thr stock has fallen 13 per cent in the past week on the back of heavy volumes after concerns emerged that the electric utilities firm may snap power lines to five states beginning March if they don't agree to tariff increases. The stock of the Tata Group Company was trading at its lowest level since July 28, 2006.

Since January 29, 2020, when it declared its October-December quarter (Q3FY20) earning, Tata Power has underperformed