Ratan Tata’s power company has increased the tension between Gautam Adani and Mukesh Ambani. Tata Power has planned to spend Rs 2.28 crore per hour during the current financial year. According to the information, Tata Power will allocate most of its capex on renewable energy. Mukesh Ambani and Gautam Adani are also making huge investments in this sector. In such a situation, the entry of Ratan Tata can increase the problems of both. Let us also tell you what kind of announcement Tata Power has made.
Rs 20,000 crore spending plan.
Tata Power will spend Rs 20,000 crore on capital expenditure in the current financial year 2024-25. Company Chairman N Chandrasekaran told shareholders at the company’s 105th Annual General Meeting (AGM) that a major portion of the capex will be spent on accelerating the company’s renewable energy portfolio. The remaining amount will be spent on transmission and distribution businesses.
Last year, 12 billion rupees were spent.
Chandrasekaran, who is also the chairman of Tata Sons, said Tata Power plans to undertake a capital expenditure of Rs 20,000 crore in 2024-25. This is much more than the amount of Rs 12,000 crore invested in 2023-24. He said Tata Power will also invest to tap new distribution expansion opportunities in other states. Apart from this, the company will also explore the possibility of participating in a small modular nuclear reactor after obtaining necessary approval from the government.
what is the OBJETIVE
The Chairman said the company aims to achieve 15 GW of clean energy capacity in five years, both in existing projects and under construction. This capacity is currently 9 gigawatts. He said the company aims to add five crore consumers through expansion of the distribution business, the current number of which is over 1.25 crore.
What is the company’s stock price?
Tata Power shares closed with a slight decline on Tuesday. According to BSE data, Tata Power shares closed at Rs 436.90 down by Rs 2.30. However, the company’s stock opened at Rs 441. During the trading session, the company’s stock also touched the day’s high of Rs 445.25. At present, the market capitalisation of the company is Rs 1,39,604.38 crore. In the current year, Tata Power shares have gained investors over 32 per cent.
