Page 3 - Torrent Power

Torrent Power surges 19%, hits new high on robust June quarter earnings

Torrent Power share price today: In the past one year, the market price of Torrent Power has zoomed 161 per cent

Torrent Power Q1 result: Net profit up 88% at Rs Rs 972 cr on robust demand

Heatwaves and increasing economic activity have resulted in India's electricity generation growing at an average of about 8 per cent annually following the pandemic

Torrent Power up 5% on pact with ARS, TU14 for solar projects in Tamil Nadu

The rise in the stock price came after Torrent Power entered into a deal with ARS Steels & Alloy International and Torrent Urja 14 for setting up 50 MWp solar projects in Tamil Nadu (TN)

Torrent Power to build 50 MW solar projects for ARS Steel's power supply

Torrent Power's subsidiary Torrent Urja 14 (TU14) will set up solar projects of up to 50 MW to supply clean power to ARS Steels & Alloy International (ARS), a BSE filing said on Monday. As per the Subscription and Shareholders' Agreement (SSSA) signed on Monday, ARS will also have an equity stake in the TU14 -- an arm of Torrent Power. The SSSA has been signed by Torrent Power, ARS and TU14 for the supply of power from by development of up to 50 MWp solar power generating projects in Tamil Nadu through open access from the project of TU14 to the production units of ARS," the filing said. "Significant terms of SSSA include that ARS shall at all times during the subsistence of the power supply and offtake agreement hold not less than 26 per cent of the aggregate equity shares of TU14," Torrent Power said. Torrent Power is into generation, transmission and distribution of power. The company is also engaged in the manufacturing and supply of power cables.

Torrent Power seeks shareholders nod to raise up to Rs 5,000 cr via equity

Torrent Power on Friday said it will seek shareholders' approval to raise up to Rs 5,000 crore through equity shares. The approval will be sought in the annual general meeting scheduled on July 30, 2024. In a notice, the company said there is an ongoing requirement of working capital and capex for upgradation/ expansion of the company's power generation, distribution businesses and ongoing projects. The generation of internal funds may not be adequate to meet all the requirements of the company's growth plans, it stated, adding that the requirement of funds is proposed to be met from both equity and debt from issuance of appropriate securities and from both domestic and international markets. The company's board, in a meeting held on May 22, 2024, recommended to the members to give their consent to raise up to Rs 5,000 crore through the issuance of equity shares and/ or Foreign Currency Convertible Bonds (FCCBs) and/ or convertible bonds/ debentures or any equity-linked instrument/

Jubilant FoodWorks, Nykaa, Oil India among seven stocks to track on May 23

At 6:53 AM, GIFT Nifty futures were trading down 13 points at 22,644.50 against Nifty futures

Torrent Power Q4 results: PAT falls 4.2% to Rs 430 cr on higher fuel prices

Its revenue from operations rose 8.1% to Rs 6,529 crore, however, total expenses, led by fuel cost, rose nearly 10% to Rs 6,008 crore

Torrent Power leaps 8% on winning order worth Rs 1,825 crore

The renewable energy project will be commissioned within 24 months from the signing of Power Purchase Agreement (PPA), and will supply power at a tariff of Rs 3.65 per kWh

Torrent Group's Mehta family pledges Rs 5,000 crore for social causes

The donation, spanning five years, will be directed to the UNM Foundation, focusing on healthcare, education, ecology, and social well-being initiatives

Torrent Group's Mehta family pledges Rs 5,000 cr to UNM Foundation

Pharmaceuticals-to-energy Torrent Group's Mehta family has pledged to donate Rs 5,000 crore over the next five years to the philanthropic foundation set up in name of the group's founder U N Mehta as part of his birth centenary celebrations, the group said on Sunday. Torrent Group celebrated the birth centenary of its founder late Uttambhai Nathalal Mehta (January 14, 1924 to March 31, 1998). The Mehta family has committed to donate Rs 5,000 crore over the next five years to the UNM Foundation to honour the legacy of the visionary philanthropist, the group said in a statement. The Rs 5,000 crore Mehta family committed to donate to the UNM Foundation over the next five years starting April 1, 2024 "will be over and above the statutory CSR contributions of the Torrent Group companies", the statement said. "U N Mehta, the founder of Torrent Group, is remembered for his strong resolve in the face of adversities, business acumen, principled life and humanitarian philanthropy. His early

Torrent Power gets order to supply 150 MW renewable energy for Rs 1,825 cr

Torrent Power on Thursday said it has received a letter of award from its 'Distribution Unit' for setting up a 150MW wind solar hybrid project with an investment of Rs 1,825 crore. The renewable energy project will supply power at a tariff of Rs 3.65 per kWh, a BSE filing stated. "...the company has received Letter of Award from Torrent Power Limited-Distribution Unit for setting up of 150 MW (RE Power) Grid-Connected Wind Solar Hybrid Projects under Greenshoe option," it stated. The project will be commissioned within 24 months from the signing of Power Purchase Agreement (PPA). The contract for supply of power will be 25 years from the commissioning of the project. The annual CUF (capacity utilisation factor) will not be less than 50 per cent for any year during the term of the PPA and rated power capacity of wind and solar will be in the ratio of 2:1. To meet the 50 per cent CUF requirement, the company plans to install 245 MW of wind and solar capacity projects against a ...

Torrent Power up 7%, hits 52 week high on lower spot LNG prices

Shares of power generation company Torrent Power surged up to 7 per cent at Rs 1,512 on Wednesday's intraday trade on BSE

Torrent Power leaps 8%, nears 52-week high on 300 MW solar, wind project

The company has received Letter of Award for Grid Connected Wind Solar hybrid project worth Rs 3,650 crore

Torrent Power surges 13% on winning 306 MW solar power project

The project is to be commissioned within the next 18 months at an estimated cost of Rs 1,540 crore

Torrent Power soars 5% on bagging orders of Rs 3,140 cr; up 66% in 6 mths

To meet the high power demand in coming months, NTPCV Vidyut Vyapar Nigam (NVVN), a subidiary of NTPC, has awarded a Rs 440 crore contract to Torrent Power

Torrent Power bids successfully to supply 388 MU power under govt scheme

Torrent Power has emerged as the successful bidder to supply 388 million units (MU) of electricity from its gas-based plant under a government scheme from March 16, 2024, to June 30, 2024, the company said on Friday. It has been awarded a contract by NTPC Vidyut Vyapar Nigam Limited (NVVN) under the government's Crunch Period scheme to overcome high power demand during summer, the company said in a statement. According to the statement, Torrent has a 2,730 MW gas-based power generation capacity. Torrent Power has emerged as a successful bidder under the competitive bidding, and received a Letter of Award from the NVVN on March 1, 2024, for the supply of power from its gas-based power plant during the forthcoming summer's crunch/high power demand periods from March 16, 2024, to June 30, 2024, period. The government, through NVVN, came up with the crunch / high-demand period scheme last year to harness Gas-Based Power Generation (GBPG) to overcome the country's rising power demand, .

Torrent Power gets new round-the clock RE project worth Rs 2,700 cr

Torrent Power on Friday said it has received a Letter of Award (LoA) from the Railway Energy Management Company Ltd (REMCL) for a grid-connected round the clock renewable power project. The project shall be commissioned within 24 months from the signing of the Power Purchase Agreement (PPA), Torrent Power said in a statement. "The project cost is approximately Rs 2,700 crore for installing about 325 MW of renewable capacity for supply of 100 MW RE-RTC power. The tender requires to maintain minimum annual capacity utilisation factor of 75 per cent in the first 3 years and 85 per cent from fourth year onwards," Torrent Power said. The 325 MW of renewable capacity includes wind, solar, and battery storage, the company said. The project has been secured at tariff of Rs 4.25/Kwh for a period of 25 years.

Torrent Power raises Rs 700 crore through non-convertible debentures

Torrent Power on Wednesday said it has raised Rs 700 crore through Non-Convertible Debentures (NCDs) issued on a private placement basis. The NCDs are proposed to be listed on wholesale debt market segment of the NSE, a regulatory filing said. According to the statement, the company has issued and allotted Series 13 -- 70,000 secured, rated, listed, taxable, non-cumulative, redeemable NCDs of Rs 700 crore at a coupon rate of 8.32 per cent per annum on a private placement basis. The first coupon will be paid on February 28, 2025 and subsequent coupon payments will be made on an annual basis, the statement added.

Torrent Power, Lanco lowest bidders in natural gas-fired power auction

India relies on coal to generate about three-quarters of its electricity, and power generated from coal is typically much cheaper than that generated by gas-fired plants

Torrent Power Q3 results: Net profit declines by 46% to Rs 374 crore

Torrent Power on Thursday reported a 46 per cent dip in its consolidated net profit to Rs 374 crore in the December quarter compared to the year-ago period mainly due to lower revenues. The company reported a net profit of Rs 695 crore in the third quarter of FY 2022-23, a company statement said. Revenue from operations stood at Rs 6,366 crore in the December quarter of FY2023-24 compared to Rs 6,443 crore in Q3 of FY 2022-23. Earning before interest, depreciation and tax (EBIDTA) for Q3 of FY 2023-24 was lower due to a reduction in net gain from trading of LNG and merchant power sales by Rs 478 crore compared to the corresponding quarter of last year. Adjusted for the above gain in the third quarter of FY 2022-23, adjusted earnings before interest, depreciation and tax (EBIDTA) and PAT for Q3 FY 2023-24 were higher by Rs 49 crore and Rs 31 crore respectively as compared to Q3 FY 2022-23, it stated. The major reasons for higher adjusted PAT for the quarter on y-o-y basis include a