Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessMarkets

Torrent Power hits 52-week high on GERC nod for power procurement arrangement

The approval, with certain stipulations, is for the balance life of UNOSUGEN plant i.e. 19 years

June 26, 2019 / 01:16 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Torrent Power shares rallied 2.55 percent intraday to hit a 52-week high of Rs 279 on June 26 after Gujarat Electricity Regulatory Commission approved power procurement arrangement.

The stock was quoting at Rs 275.60, up Rs 3.55, or 1.30 percent on the BSE at 1256 hours IST.

The company said GERC approved the power procurement arrangement of 278 MW between the company's UNOSUGEN power plant and its Licensed Distribution Business for cities of Ahmedabad, Gandhinagar and Surat.

The approval, with certain stipulations, is for the balance life of the plant i.e. 19 years, it added.

UNOSUGEN power plant capacity is 382.5 MW.

Moneycontrol News
first published: Jun 26, 2019 01:16 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347