look news india
On April 1, the first day of the new financial year, investors are seen falling short on the shares of power sector company Torrent Power. During trading the share reached the level of Rs 2672. The reason for the rise in this stock is an order received by the company. Read the report for more details.
Order Information
It may be noted that Torrent Power has received a 150 MW wind solar hybrid project from its distribution arm. Currently, the company told the stock exchange that it has received an order letter from Torrent Power Limited-Distribution Arm to set up 150 MW (RE Power) grid connected wind solar hybrid project at Greenshoe Option. The project cost is Rs 1825 crore and will be commissioned within 24 months of the power purchase agreement (PPA). The contract period will be 25 years from the commencement of the project. The rated power capacity of wind and solar energy will be in the ratio of 2:1.
Let us tell you here that on March 16, Torrent Power received LOA from Torrent Power Limited-Distribution Unit for 300 MW gridconnected wind solar hybrid projects worth Rs 3650 crore.
About the company
Ahmedabad-based Torrent Power is the flagship company of Torrent Group with an integrated power utility of Rs 25,694 crore and annual revenue of Rs 37,600 crore. Torrent Power is one of the largest companies in the power sector in the country and is involved in power generation, transmission and distribution.
Expert opinion on stock
The stock has risen more than 180 percent in 12 months. According to Bloomberg data, three out of 11 analysts tracking the company have maintained a buy rating. While two people have advised to hold and 6 people have advised to sell.