Torrent Power soars 5% on bagging orders of Rs 3,140 cr; up 66% in 6 mths

Shares of Torrent Power soared 5 per cent on BSE to Rs 1,172 in Saturday's special trading session after the company won power supply projects worth Rs 3,140 crore. All securities will trade with revised circuit limits of 5 per cent today. The stock of the power utility has surged 66 per cent in the last 6 months from a level of Rs 705 reached in September last year. In the past one month, it is up 10 per cent. Its 52-week high of Rs 1,235 was reached on 15th of last month. To meet the high power demand in coming months, NTPCV Vidyut Vyapar Nigam (NVVN), a subidiary of NTPC, has awarded a Rs 440 crore contract to Torrent Power, under which it will supply power from its gas based power plant. Under the agreement, 770 MW capacity has been contracted with minimum 388 MUs of guaranteed power to be supplied during March 16-June 30, 2024, which may be further extended upto July 15, 2024.