Page 3 - Torrent Power

Torrent Power to invest Rs 64,000 crore in green projects; stock up 2%

Torrent Power shares started today's trading session on a positive note and continue to trade northward on the bourses

Torrent Power commits Rs 64,000 crore investment for green projects

Torrent Power on Monday pledged Rs 64,000 crore investment for green or renewable energy projects having employment potential for 26,000 people. Torrent Power Ltd, the integrated power utility of diversified Torrent Group, has reaffirmed its commitment towards green and sustainable future as it submitted two 'Shapath Patras' to the Union Ministry of New and Renewable Energy at the 4th Edition of RE-Invest at Gandhinagar on Monday, a company statement said. RE-INVEST is being organised by the Ministry of New and Renewable Energy in partnership with CII. According to the statement, the company has submitted a Shapath Patra' to achieve 10 Gigawatt (GW) of installed Renewable Energy (RE) capacity by 2030, with an investment of Rs 57,000 crore. This investment is expected to generate direct and indirect employment for around 25,000 people. As part of these commitments, Torrent Power on Monday signed a Memorandum of Understanding (MoU) with the Gujarat government for execution of a 5 GW

Torrent Power moves NCLAT against Sarda Energy's bid approval for SKS Power

Torrent power has moved the appellate tribunal NCLAT against the approval of Sarda Energy and Mining's resolution plan for the debt-ridden SKS Power Generation. Earlier on August 13, the Mumbai-based bench of the National Company Law Tribunal (NCLT), while approving Sarda Energy and Mining's (SEML) bid, had rejected applications, including of Torrent Power, to acquire SKS Power Generation (Chhattisgarh). Torrent Power had raised objections over the selection process, terming it to be discriminatory, and contended that it has proposed the highest upfront payment. The Torrent group firm also sought a copy of the approved plan, which was rejected by the NCLT. The order has now been challenged by Torrent Power before the Delhi-based bench of the National Company Law Appellate Tribunal (NCLAT). Torrent Power's petition is scheduled for hearing on Tuesday before a three-member bench of the NCLAT headed by its Chairperson Justice Ashok Bhushan. Corporate Insolvency Resolution Process (CI

Vinay Rajani of HDFC Securities recommends buying these two stocks today

Stock price of Torrent Power is on the verge of breaking out from falling wedge pattern on daily chart. On 31 st July 2024, Stock Price broke out with jump in volumes

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, .