Tata Power zooms on getting CCI’s nod for purchase of 51% stake each in three power utilities in Odisha

Tata Power Company is trading at Rs. 130.90, up by 13.90 points or 11.88% from its previous closing of Rs. 117.00 on the BSE.

The scrip opened at Rs. 121.40 and has touched a high and low of Rs. 131.90 and Rs. 119.00 respectively. So far 8826036 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 128.70 on 09-Jun-2021 and a 52 week low of Rs. 38.00 on 12-Jun-2020.

Last one week high and low of the scrip stood at Rs. 128.70 and Rs. 106.95 respectively. The current market cap of the company is Rs. 38999.12 crore.

The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 33.03% and 20.10% respectively.

The Competition Commission of India (CCI) has approved the Tata Power Company’s proposed purchase of 51 percent stake each in three power utilities in Odisha. The company is to buy the stakes in Western Electricity Supply Company of Odisha (WESCO), Southern Electricity Supply Company of Odisha (SOUTHCO) and Central Electricity Supply Company of Odisha (CESCO). The deal comes after separate competitive bidding processes initiated by the Odisha Electricity Regulatory Commission.

Tata Power Company is India’s largest integrated power company.

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