Tata Group Power firm: The Maharashtra Electricity Regulatory Commission (MERC) gave the firm permission to raise the tariff. The company’s shares were significantly impacted by this news. Tata Power’s stock surged 7.64 percent to conclude at a new high.
Tata Group Power Corporation: Regarding the Tata Group company Tata Power, there has been a significant update. The Maharashtra Electricity Regulatory Commission (MERC) gave the business permission to raise the tariff. The company’s shares were significantly impacted by this news. Tata Power’s stock surged 7.64 percent to conclude at a new high. Over the past year, the share has yielded a 100 percent return.
The report indicates that MERC has given Tata Power permission to raise the tariff. For FY25, the company’s request to raise the average tariff by 24% has been approved. The company’s new pricing will take effect on April 1, 2024.
The rise in Tata Power’s tariff was approved, and this had a beneficial impact on stock movement. The stock gained 7.64 per cent and finished at Rs 424 at the end of trade. Within the day, the stock reached a high of 433.20. which also marks a 52-week high. The share’s 52-week low is 396. The company’s market capitalization on the BSE was Rs 1.36 lakh crore.
If we examine the performance of Tata Power shares, during the past year, the stock has returned more than 100%. In contrast, this stock has returned more than 30% to investors in only three months and 60% to investors in just six months.
Disclaimer : The above article is meant for informational purposes only, and should not be considered as any investment advice.