![Tata Power posts ₹1,189 cr profit in Q1](https://images.assettype.com/fortuneindia%2F2022-05%2F5eec98a2-65ef-4c44-909e-060f118a81b0%2FTata_Power_DSC01550_copy.jpg?rect=0,3,1597,799&w=300&q=95)
Tata Power posts ₹1,189 cr profit in Q1
Tata Power's planned capex for this financial year is ₹20,000 crore.
Tata Power's planned capex for this financial year is ₹20,000 crore.
Tata Passenger Electric Mobility and Tata Power Renewable Energy join hands to install solar rooftop systems at houses of EV buyers
India is pushing private sector participation in building smaller nuclear plants to meet green targets.
A large part of the fund will be used to accelerate the company's renewable energy portfolio, says Tata Power Chairman.
Post Q4, JM Financial has maintained a ‘Buy’ call on Tata Power shares with an upgraded target price of ₹490 per share from ₹440 earlier.
The Tata Group company reported profit growth for the 18th consecutive quarter to ₹1,046 crore for Q4 FY24, up 11% YoY.
Tata Group attempts mergers and demergers in companies to bring sharper focus on businesses.
The 4,000 megawatt (MW) coal-fired plant is running at almost full capacity in the first half of April when electricity consumption grew nearly 10% year-on-year to 70.66 billion units (BU).
After gaining nearly 40% in the last six sessions, Tata Chemicals declined 10.3% on Monday; Tata Motors, Tata Power, Tata Investment Corp fell up to 5%.
Shares of Tata Power have fallen over 8% in two sessions after hitting a 52-week high of ₹412.75 in intraday trade on Friday.