A Tata Power's movement headed by school children aimed at saving eliminating wastages of electricity and spreading awareness about energy and resource conservation called, `Club Enerji' has been highly successful.
The campaign is claimed to have touched upon around 1,26,675 citizens and helped save 7,93,585 units of energy in the national capital, Delhi. The initiative included activities include rallies, street plays and public addresses aimed at spreading awareness during festivals such as Diwali, Ganesh Chaturthi, Navratra, etc.
Tata Power-arm Coastal Gujarat Power Limited (CGPL) on Monday commissioned the fifth and last 800MW unit of the ultra mega power plant at Mundra in Gujarat.
The first unit of the 4,000MW plant was commissioned in March last year. The project, which is India's maiden ultra mega power project (UMPP), has been completed in a record time of one year.
Global research house, Credit Suisse has announced its decision to downgrade the shares of Tata Power Company to underperform.
Tata Power, which is the largest private power producers in India, had the rating of 'neutral' from the investment bank earlier. Credit Suisse also said that it is reducing its target price to Rs. 83 from Rs. 104 for the shares of the company. It also said cited valuations as one of the reasons for the downgrade and advised the investors to switch to NHPC Ltd and KSK Energy Ventures Ltd.
Tata Power has announced its decision to stop power supply to three Rajasthan-owned distribution companies, viz. Ajmer Vidyut Vitran Nigam, Jodhpur Vidyut Vitran Nigam and Jaipur Vidyut Vitran Nigam.
The three discoms, which have been getting power supply from Tata Power's subsidiary Coastal Gujarat Power, have defaulted on timely payment of dues that resulted in huge outstandings.
The Appellate Tribunal for Electricity (ATE) dismissed Tata Power's petition challenging the Maharashtra electricity regulator's order on imposing cross subsidy surcharge on high-end consumers who migrated from R-Infra to Tata Power.
The Maharashtra Electricity Regulator Commission (MERC) has ruled in September last year that if high-billing customers move from one supplier to another under open access system, they would have to keep on cross subsidizing their previous supplier's lower-end consumers.
The Indian state of Bihar offers tremendous scope for the development of solar energy market, international organisation World Institute of Sustainable Energy (WISE) has said.
According to WISE, Bihar enjoys around 280 days of sunshine in a year, which reflects great scope for developing solar energy market. As per the international organisation, Bihar currently offers a solar equipments market worth more than Rs 40 crore, and this market is expected to expand further in the coming years.
International rating agency, Moody's has downgraded Tata Power's corporate family from the B1 rating earlier to Ba3.
The shares of Tata Power Ltd, which is the largest private-sector power utility in India, fell 2 per cent after the downgrade by the rating agency. The shares of the company were trading 2 per cent lower at Rs 101.90. the shares have touched a low of Rs 101.30 and a high of Rs 103.50 during the day.
As government is struggling to win back investors, Morgan Stanley on Monday painted a more pessimistic picture of Indian economy by slashing its growth forecast for the country's current fiscal year.
Morgan Stanley slashed its growth forecast for Indian economy to 5.1 per cent for the fiscal year of 2012-13, from its earlier projection of 5.8 per cent.
Indian Stock Markets opened positive on Friday but lost ground in afternoon session. The NSE Nifty was in negative zone at 13.52 IST. Asian markets closed positive with Nikkei 225 and Hang Seng closing the session with gain of 0.75 per cent.
The US markets closed positive, on Thursday. Dow Jones touched intraday high of 13269, less than 100 points from 52-week high. European markets have opened positive with DAX, FTSE and CAC showing marginal gains during the early session.
Indian Stock Markets ended the recent rally as the depressing June IIP numbers deteriorated investors sentiment. Also, rating agency Moody's has reduced India's GDP growth forecast to 5.5 per cent for 2012-2012. BSE Sensex closed 40 points lower at 17560. NSE Nifty closed 15 points down at 5322.
Indian automajor Maruti Suzuki India declared 23 per cent decline in net profit on year-on-year basis. The company reported Rs 424 crore profit and blamed the decline on fall in Indian currency which impacted the import costs for the auto major which recorded an increase in net sales.
Tata Power Company has acquired a 51 per cent stake in Tata BP Solar from BP Alternative Energy, according to filing with the stock exchanges.
"Tata Power completed the purchase of 51% equity shares of Tata BP Solar India Limited on June 28, which were held by BP Alternative Energy Holdings Limited. Consequently, Tata BP Solar India Limited is now a wholly owned subsidiary of the company," the company wrote in the filings.
The country's largest private power producer has reported a disappointing consolidated loss of Rs 628.75 crore for the January-March quarter mainly due to non-cash impairment charge provision of Rs 815 crore for Mundra Ultra Mega Power Project (UMPP).
The company had a consolidated profit after tax of Rs 625.02 crore during the same quarter of the fourth quarter of the previous year. The consolidated revenue of the company rose 44 per cent to Rs 7,234.76 crore during the quarter compared to Rs 4,985.84 crore in the same quarter of the previous year.
The Appellate Tribunal for Electricity (ATE) has ruled that Tata Power Company (TPC) is now allowed to supply electricity to consumers in Mumbai.
The move will allow consumers in the country’s financial capital to switch from Brihanmumbai Electric Supply and Transport Undertaking (BEST) to the private provider. The ATE upheld a ruling by the Maharashtra Electricity Regulatory Commission (MERC) dated February 22, 2010 in an order on 4 April.
Tata Group's chairman Ratan Tata has introduced his successor, Cyrus Mistry to Gujarat chief minister Narendra Modi in Gandhinagar on Thursday. Mr. Tata is also believed to have discussed the renegotiation of the power purchase agreement (PPA) with the state government for its Mundra. The first phase of the project is already complete but the company is aiming to get a higher price for the power before starting production of power.
A unit of the Tata group, Tata Power has reported a consolidated net loss of Rs 1,218.86 crore in the second quarter o the financial year. The company had reported a consolidated net profit of Rs 672.54 crore in the second quarter of 2010.
The reasons for the huge looses incurred in the quarter were provisioning of Rs 1,461.96 crore for impairment charges and losses in the foreign exchange market. The company said that its profitability was also affected by a differential cost of Rs 50.39 crore in linked to its 1,050-MW project in Maithon.
The Indian stock market closed down as the Bombay Stock Exchange Sensitive Index, or Sensex dropped by 0.5% or 76.82, to 17,053.69 as notified at 3:30 pm in Mumbai. The giant experienced lows and highs 12 times during the day. The S&P CNX Nifty Index also withdrew at 0.5% to 5,133.35 and its August futures closed at 5,128. The BSE 200 Index dropped by 0.5%.
Technical analyst Prakash Gaba has maintained 'buy' rating on Tata Power Company Limited stock with a target of Rs 1360.
According to analyst, the investors can buy the stock with a stop loss of Rs 1320.
The stock of the company, on December 28, closed at Rs 1334.30 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1518.55 and a low of Rs 211.70 on BSE.
Current EPS & P/E ratio stood at 37.89 and 35.39 respectively.
Technical analyst Salil Sharma has maintained 'buy' rating on Tata Power Company Limited with a target of Rs 1328.
According to analyst, the investors can buy the stock with a stop loss of Rs 1295.
Today, the stock of the company opened at Rs 1319.50 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1518.55 and a low of Rs 1211.70 on BSE.
Current EPS & P/E ratio stood at 37.89 and 34.89 respectively.
Today Anil Ambani-led Reliance Infrastructure, was proposed to hike its power tariff in Mumbai, he said its tariff was higher contrasted to other distributors as it has to buy costly power from the market.
Today a statement was issued by the company, disputed against its move to raise tariffs by the Congress and the Shiv Sena, assumed that Tata Power was basis injustice to its consumers by reducing power allowance from 762 MW to 500 MW, most important to high tariff increase for its consumers.