Tata Power drops after block deals

Meanwhile, the BSE Sensex was down 196.08 points or 1.01% at 19,257.84.

On BSE, 18.13 lakh shares were traded in the counter as against average daily volume of 4.02 lakh shares in the past one quarter.

The stock hit a high of Rs 107.45 and a low of Rs 105.75 so far during the day. The stock had hit a 52-week low of Rs 81.90 on 21 December 2011. The stock had hit a 52-week high of Rs 121.50 on 21 February 2012.

The stock had outperformed the market over the past one month till 20 December 2012, surging 9.45% compared with the Sensex's 6.14% rise. The scrip had also outperformed the market in past one quarter, jumping 9.17% as against Sensex's 6.02% gain.

 

The large-cap company has equity capital of Rs 237.31 crore. Face value per share is Re 1.

Tata Power on 6 December 2012 said its special purpose company (SPC) has executed the distribution franchisee agreement (DFA) with Jharkhand State Electricity Board (JSEB) for the distribution franchise of Jamshedpur circle. Tata Power said that subsequent to the company winning the bid for distribution franchisee of Jamshepur circle, it has formed a SPC by the name TP Power Distribution and executed the DFA with JSEB for the distribution franchise of Jamshedpur circle. The distribution franchise awarded to Tata Power will be for a period of 15 years. TP Power Distribution will be responsible for operating and maintaining the distribution network in the Jamshedpur circle, which includes Jamshedpur, Adityapur, Ghatsila, and Baharagora areas, Tata Power said in a statement. Tata Power and JSEB will now start the joint audit of the existing T&D losses by an independent auditor, Tata Power added.

Tata Power reported a consolidated net loss of Rs 83.80 crore in Q2 September 2012, much lower than net loss of Rs 1187.32 crore in Q2 September 2011. Net sales rose 22.4% to Rs 7649.49 crore in Q2 September 2012 over Q2 September 2011.

Tata Power is India's largest integrated power company with a significant international presence. The company has an installed generation capacity of 6,899 megawatts (MW) in India and a presence in all the segments of the power sector viz, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. It has successful public-private partnerships in Generation, Transmission and Distribution in India. It is one of the largest renewable energy players in India and is developing country's first 4,000 MW Ultra Mega Power Project at Mundra in Gujarat based on super-critical technology. Its international presence includes strategic investments in Indonesia through 30% stake in coal mines and a geothermal project in Singapore through Trust Energy Resources to securitise coal supply and the shipping of coal for its thermal power generation operations; in South Africa through a joint venture called 'Cennergi' to develop projects in South Africa, Botswana and Namibia, in Australia through investments in enhanced geothermal and clean coal technologies and in Bhutan through a hydro project in partnership with The Royal Government of Bhutan.

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