Tata Power Company rose 2.49% to Rs 68 at 10:17 IST on BSE after the company said it signed a pact with the Ministry for Development of Russian Far East to increase energy investment between India and Russia.
The announcement was made after market hours on Thursday, 24 December 2015.
Meanwhile, the BSE Sensex was up 128.11 points, or 0.50%, to 25,966.82.
On BSE, so far 2.09 lakh shares were traded in the counter, compared with an average volume of 3.32 lakh shares in the past one quarter.
The stock hit a high of Rs 68.45 and a low of Rs 66.75 so far during the day. The stock hit a 52-week high of Rs 92.40 on 2 February 2015. The stock hit a 52-week low of Rs 55.55 on 7 September 2015.
The stock had underperformed the market over the past one month till 24 December 2015, falling 0.38% compared with 0.24% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 2.16% as against Sensex's 0.10% decline.
The large-cap company has an equity capital of Rs 270.46 crore. Face value per share is Re 1.
Tata Power Company announced that it signed a memorandum of understanding (MoU) with the Ministry for Development of Russian Far East, Government of the Russian Federation, to explore and develop investment opportunities in the energy sector. Under the provisions of the MoU, the Ministry for Development of Russian Far East will cooperate with and support Tata Power at all stages of the investment projects, including assisting the company's communications with federal and regional authorities, state-owned companies, and the private sector, the company said in a statement. The MoU was signed during Prime Minister Narendra Modi's visit to Russia.
Tata Power reported a consolidated net profit of Rs 247.31 crore in Q2 September 2015, compared with net loss of Rs 77.75 crore in Q2 September 2014. Net sales rose 10.6% to Rs 9462.92 crore in Q2 September 2015 over Q2 September 2014.
Tata Power is India's largest integrated power company with a significant international presence. The company has presence in all the segments of the power sector viz generation (thermal, hydro, solar and wind), transmission, distribution and trading.
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