Tata Power edges up on its plans for scouting more hydro-power projects in Bhutan

14 Dec 2012 Evaluate

Tata Power is currently trading at Rs 105.80, up by 0.10 points or 0.09% from its previous closing of Rs 105.70 on the BSE.

The scrip opened at Rs 105.85 and has touched a high and low of Rs 106.25 and Rs 105.55 respectively. So far 30178 shares were traded on the counter.

The BSE group 'A' stock of face value Re 1 has touched a 52 week high of Rs 121.50 on 21-Feb-2012 and a 52 week low of Rs 80.65 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs 110.90 and Rs 105.10 respectively. The current market cap of the company is Rs 25118.97 crore.

The promoters holding in the company stood at 31.75% while Institutions and Non-Institutions held 48.52% and 16.51% respectively.

Tata Power, private power producer is looking for more hydro-power projects in Bhutan and is likely to negotiate the finer print with the Bhutan Government for the same. At present entity has a joint venture with Druk Power, an entity of the Royal Government of Bhutan, under which it is implementing a 126-MW from Dagachhu Hydro Project. The project is at an advanced stage of implementation.

The company has taken this decision after finding that any Indian company is free to negotiate with Bhutan Government to set up a project outside the mentioned ones. Currently, in Bhutan 1,416 MW capacity is operational; 2,940 MW is under construction; detailed project report has been prepared for 6,750 MW and agreements have been signed for another 1,800 MW project.

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