Tata Power's Shares Hit All-Time High, Becomes Sixth Tata Group Company With Rs 1 Trillion Market Cap

All thanks to its?shares?hitting an?all-time high not just today morning but in fact multiple times this week,?Tata Power?has become the sixth?Tata group company to hit the Rs 1 trillion market cap (or Rs 1 lakh crore).

When Did Tata Power Shares Hit All-Time High?

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Tata Power shares reached an?all-time high this morning, hitting Rs 341.90 on the NSE and Rs 341.30 on the BSE. Tata Power’s shares have surged nearly 60% this year to date and nearly 30% in the last month.

Why Are Tata Power Shares Surging?

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The recent surge in Tata Power shares comes after the Tata group company disclosed plans for a capital expenditure of ?60,000 crore by FY27, with 45% of this investment directed towards the renewables sector. The company has a clean energy portfolio of 5.5 GW and aims to raise it to 20 GW by 2030, as per the ET report.

In the beginning of this month, Tata Power won the bid to acquire Bikaner-III Neemrana-II Transmission Limited, a project special purpose vehicle (SPV) set up by PFC Consulting Limited, a subsidiary of Power Finance Corporation. The company received the letter of intent (LOI) after emerging as a successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, as per the guidelines issued by the Union Ministry of Power.

The transmission project, as per the Mint report, which will be developed on a build-own-Operate-Transfer (BOOT) basis, will enable the evacuation of 7.7 GW of renewable energy from the Bikaner Complex in Rajasthan. The project entails the establishment of a 340-kilometre transmission corridor from Bikaner-III pooling station to Neemrana II substation.

Also Read:?All You Need To Know About?Tata?Group's Most Expensive?Stock

Which 6 Tata Group Companies Have Hit Rs 1 Lakh Crore Mark?

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Tata Power has become the sixth company from the Tata Group to achieve a market capitalization exceeding ?1 trillion (lakh crore). Here's a list of Tata Group companies that have a market cap of Rs 1 lakh crore or more:

1.TCS-Rs 13.4 lakh crore

2.Titan-Rs 3.20lakh crore?

3.Tata Motors-Rs 2.64lakh crore

4.Tata Steel-Rs 1.63lakh crore

5.Trent-Rs 1.06lakh crore

6.Tata Power- Rs 1.07 lakh crore

Also Read:?List?Of?Tata Group?Companies That Originally Had Different Names

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