Torrent Power share price gains despite stock market crash, led by a large order win
Torrent Power on Thursday, post market hours, informed the investors through its release on the exchanges about the order win pertaining to wind power project. Torrent power in its media release on the National Stock Exchange of India and the BSE or the Bombay Stock Exchange intimated about the receipt of letters of award for Torrent Green Energy Private Limited, a wholly owned subsidiary of the Company.
The Letter of award has been received from Solar Energy Corporation of India (SECI) on June 11, 2025 as per Torrent Power Media release. The Letter of award is for setting up of 300 MW ISTS connected Wind power projects under Wind Tranche-XVIII, which will be disseminated shortly. ISTS refers to an Inter-State Transmission System.
On June 11, 2025, a wholly owned subsidiary of Torrent Power Limited, Torrent Green Energy Pvt Ltd was awarded a Letter of Award by the Solar Energy Corporation of India (SECI) for the setting up of a 300 MW wind power project under Wind Tranche-XVIII after winning a competitive bidding process.
With a tariff of ₹ 3.97 per unit, the project is expected to come on stream and get commissioned in the next 24 months after the Power purchase agreement or the PPA is executed. The estimated investment stands at ₹ 2,650 crore on the project.
Renewable energy has been a strategic focus area for Torrent Power and a growth driver. As per Torrent power, with this project, Torrent's renewable capacity under development increases to 3.3 GWp.
Torrent Power share price opened at ₹ 1399.45 on the BSE. The Torrent Power share price that saw a flt opening on Friday compared to the previous days closing price however gained ₹ 1419 levels during the intraday trades, marking gains of close to 1.5% on a day when stock market crashed and the Sensex was down more than 1%.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
23 minutes ago
- Business Standard
RIL stock 4% shy from peak; time to buy or sell? Here's what brokerages say
RIL stock outlook: JM Financial reiterates BUY with a revised target price of ₹1,700, as analysts believe RIL has industry leading capabilities to drive robust 15-20% EPS CAGR over the next 3-5 years. SI Reporter Mumbai Reliance Industries (RIL) share price Shares of Reliance Industries (RIL) hit an over 11-month high of ₹1,544.50, gaining 1 per cent on the BSE in Monday's intra-day trade in an otherwise subdued market. In comparison, the BSE Sensex was up 0.01 per cent at 83,439.84 at 02:12 PM. The stock price of the country's most valued company in terms of market capitalisation now stands 4 per cent away from its all-time high of ₹1,608.95 (adjusted to 1:1 bonus), touched on July 8, 2025. The stock has recovered 38 per cent from its 52-week low of ₹1,115.55 hit on April 7, 2025. Brokerages view on RIL India's largest conglomerate, RIL, could generate up to $60 billion in value from its new energy business as it integrates green power into its chemicals, data centre, and refinery operations, according to a report by Morgan Stanley. The brokerage said that RIL's next leg of market capitalisation growth will be powered by the combination of new energy and artificial intelligence (AI) infrastructure, marking what it called a 'more ambitious, far more transformational, and far more global' pivot than any of its previous forays. Meanwhile, CareEdge Ratings believes that RIL shall continue to benefit from its leadership position in its diversified key business segments viz., oil to chemicals, telecom and retail, which shall support the business profile and lead to sustained strong credit profile on a consolidated basis. RIL saw a consistent uptrend in January to March 2025 quarter (Q4FY25), driven by a growth rebound in retail and digital services. According to analysts at Geojit Financial Services, looking ahead, the digital services segment is expected to benefit from factors such as the rollout of 5G services, potential increase in average revenue per user (ARPU), and scaling up of home broadband services. Additionally, retail business growth is expected to be driven by market share gains and emergence of quick commerce opportunities. However, RIL's growth trajectory could be impacted by margin pressure from increased investments in new energy initiatives and the slowdown in global demand for fuel and chemicals, the brokerage firm said. RIL is likely to declare its April-June quarter (Q1FY25) earnings in second half of the July month. Last year, the company had announced its Q1FY24 financial results on July 19, 2024. RIL: Key metrics Kotak Institutional Equities expects good Q1 earnings driven by O2C, telecom and retail. The brokerage firm expects consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) to rise 15.4 per cent year-on-year (YoY) (up 2.1 per cent quarter-on-quarter (QoQ)) with 19-20 per cent YoY EBITDA increase for O2C, digital and retail segments, partly offset by oil & gas (down 7.5 per cent YoY). Despite the refinery shutdown in Q1, O2C EBITDA will rise 3.5 per cent QoQ (19 per cent YoY on low base) on better margins. With tail benefits of July 2024 tariff hike and better transmission to margins, analysts expect R-Jio's EBITDA to rise 4.2 per cent QoQ (18.6 per cent YoY). The brokerage firm said it assumes blended ARPU of ₹ 209.5 (1.6 per cent QoQ, ~15 per cent YoY). It forecast retail EBITDA to grow ~21 per cent YoY (up 1.1 per cent QoQ) on a low base. Meanwhile, analysts at JM Financial Institutional Securities reiterated BUY on RIL (revised target price ₹1,700). They believe RIL has industry leading capabilities across businesses to drive robust 15-20 per cent EPS compounded annual growth rate (CAGR) over the next 3-5 years, particularly driven by both consumer businesses with Jio's ARPU is expected to rise at ~13 per cent CAGR over FY25-28 with ARPU being on a structural uptrend given the industry structure, future investment needs, and the need to avoid a duopoly market. Clarity on the potential timeline and valuation of Jio's listing could be a possible near- to medium term trigger, the brokerage firm said.
Business Standard
28 minutes ago
- Business Standard
Vintage Coffee to raise Rs 215.76 crore via preferential allotment of equity shares & warrants
Vintage Coffee and Beverages (VCBL) said that its board has approved the issuance of up to 1.50 crore equity shares and 24 lakh convertible warrants on a preferential basis aggregating to Rs 215.76 crore. This preferential issue is subject to necessary approvals, including from the companys shareholders. The company stated that the proposed issue will bring on board high quality and marquee shareholders of scale and repute. The funds from this issue, if approved, will help the company to set up 5,000 MTPA green field plant of freeze-dried coffee and capture volume share in the premium coffee segment. The company expects to increase spray dried and agglomerated coffee capacity up to 11,000 MTPA by 31 March 2026 from current capacity of 6,500 MTPA. The freeze-dried coffee plant of approximately 5,000 MTPA would be additional to the 11,000 MTPA capacity for the spray dried and agglomerated segment. Balakrishna Tati, chairman and managing director of Vintage Coffee and Beverages, said: VCBL remains at the forefront to capture the global coffee demand backed by quality, service and product innovation. The proposed preferential issue of shares will bring marquee institutional investors of repute demonstrating confidence in companys products and growth prospects. The proposed preferential issue will support VCBL's growth through FY26-FY28." Vintage Coffee and Beverages (VCBL) is engaged in the business of manufacturing and exporting instant coffee, instant chicory and a range of other beverages. With a strong foothold in private labeling, it offers bespoke solutions that cater to diverse customers' needs. The company had reported a consolidated net profit of Rs 15.64 crore in the quarter ended March 2025 as against Rs 4.30 crore during the previous quarter ended March 2024. Revenue jumped to Rs 105.14 crore in Q4 FY25 from Rs 42.39 crore in Q4 FY24. The scrip declined 3.31% to currently trade at Rs 137.10 on the BSE.
Business Standard
28 minutes ago
- Business Standard
PC Jeweller Ltd leads gainers in 'B' group
Ltd, Mazda Ltd, KRN Heat Exchanger and Refrigeration Ltd and Vibhor Steel Tubes Ltd are among the other gainers in the BSE's 'B' group today, 07 July 2025. Ltd, Mazda Ltd, KRN Heat Exchanger and Refrigeration Ltd and Vibhor Steel Tubes Ltd are among the other gainers in the BSE's 'B' group today, 07 July 2025. PC Jeweller Ltd soared 14.90% to Rs 19.2 at 12:01 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 445.63 lakh shares were traded on the counter so far as against the average daily volumes of 58.83 lakh shares in the past one month. Ltd spiked 14.40% to Rs 526.2. The stock was the second biggest gainer in 'B' group. On the BSE, 5.91 lakh shares were traded on the counter so far as against the average daily volumes of 29490 shares in the past one month. Mazda Ltd surged 13.70% to Rs 330. The stock was the third biggest gainer in 'B' group. On the BSE, 1.33 lakh shares were traded on the counter so far as against the average daily volumes of 7576 shares in the past one month. KRN Heat Exchanger and Refrigeration Ltd spurt 11.82% to Rs 914. The stock was the fourth biggest gainer in 'B' group. On the BSE, 2.47 lakh shares were traded on the counter so far as against the average daily volumes of 36175 shares in the past one month. Vibhor Steel Tubes Ltd gained 10.03% to Rs 171.15. The stock was the fifth biggest gainer in 'B' group. On the BSE, 29602 shares were traded on the counter so far as against the average daily volumes of 2297 shares in the past one month.
