5 Power stocks to watch out for on September 15
As benchmark index BSE Sensex is guarding its 60k mark amid volatility, the Power sector has gained strength.
At the time of writing the S&P BSE Power was quoting at 5255.59 with a gain of 0.7%.
Let us see which stocks this sector investors should keep an eye on.
Tata Power announced in a press release on September 14 that Tata Power Solar Systems Ltd (TPSSL), one of India’s leading solar EPC companies, a wholly owned subsidiary of Tata Power Renewable Energy Ltd (TPREL), received an order for Rs 596 crore for setting up a 125 MWp floating solar project from NHDC Limited (NHDC). Tata Power holds a 93.94% stake in TPREL. NHDC is a joint venture of NHPC Limited and the Government of Madhya Pradesh. In yet another announcement it said that it will develop a 4 MWp solar project at Tata Motors’ Pune plant. The project will generate 5.8 million units of electricity, mitigating over 10 lakh tonnes of CO2. At 11.30 am, the shares of Tata Power are quoting at Rs 240.70, down by 0.31%.
Adani Transmission announced the incorporation of a wholly owned subsidiary Adani Electricity Jewar Limited (AEJL) on September 12, 2022, with an initial authorised and paid up capital of Rs 1,00,000 each to, inter alia, carry on the business of transmission, distribution and supply of power and other infrastructure services relating. At 11.00 am shares of Adani Transmission were quoting at Rs 4051.35per share with a gain of 1.9% over its previous close
NTPC logged a fresh 52-week high on September 14 at Rs 173 after rallying 3.37% from the previous close. The PSU has paid a total dividend for FY2021-22 amounting to Rs 6,787.67 crore, with a payout ratio of 42%. The final dividend is 30% of the paid-up equity share capital of the company. In the developments during the month, NTPC.
At 11.30 am shares of this PSU were quoting at Rs 174.40 per share with a gain of 1.6% over its previous close.
A PSU in the sector which is rising for the fourth straight session is Power Grid Corporation of India. The weekly gain for the stock has risen to 5% at today’s intraday high of Rs 234.35. The Maharatna CPSU is the largest electric power transmission utility in the country. At 11.30am, the shares of Power Grid Corporation were trading at Rs 232.85, a gain of 0.15% over its previous close.
Another stock in the sector which is rising in the morning trades is Torrent Power. The stock has logged an intraday high of Rs 559.30 which was 2.4% higher than its previous close. The shares of Torrent Power were under selling pressure in the last one week shedding 5.93%. At 11.30am, the shares of Torrent were trading at Rs 554, a gain of 1.44% over its previous close.
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