Latest news with #TataPower
The Print
6 days ago
- Business
- The Print
Tata Power applies to expand electricity distribution in Maharashtra
It can be noted that through amendments made to the Electricity Act, private distribution companies are allowed to apply to serve various parts. The company has filed for a license across key growth regions, including parts of Mumbai, Pune, Sambhaji Nagar and Nashik, they added. Mumbai, Jun 26 (PTI) Tata Power has applied to distribute electricity to various pockets of Maharashtra as part of its efforts to expand beyond the financial capital, officials said on Thursday. However, they were hesitant to apply due to the high investments required for setting up such infrastructure. In 2022, Tata Power's rival Adani Group, with which it competes in Mumbai suburban areas, applied for select areas and expressed intent to invest up to Rs 5,700 crore towards the initiative. In the application submitted before the Maharashtra Electricity Regulatory Commission (MERC), seeking the grant of a distribution license to serve key regions across the state, the Tata Group company has evinced interest in serving areas like Chhatrapati Sambhaji Nagar, Badnapur, Jalna Taluka, Waluj MIDC, Nashik, Sinnar, Igatpuri, and Trimbak Talukas. It is also keen to serve the Municipal Corporation of Greater Mumbai (MCGM), Thane Municipal Corporation (TMC), Navi Mumbai Municipal Corporation (NMMC), Panvel Municipal Corporation (PMC), and the entire corridor from PMC to Jawaharlal Nehru Port Authority (JNPA), the officials said. Tata Power is also keen on serving the Pune region, including Pune City, Haveli, Maval, Mulshi, and Khed Talukas, they added. A public notice inviting objections and suggestions from citizens has been published as per the mandatory procedure, they said, adding that this will be followed by a public hearing. As per people in the know, Torrent Power and Adani have also undertaken similar efforts and the MERC is expected to hold hearings for their applications on July 22. PTI AA BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
&w=3840&q=100)
Business Standard
6 days ago
- Business
- Business Standard
Stocks to Watch today: Tata Power, Arkade Developers, Hitachi Energy, NTPC
Stocks to Watch Today, Friday, June 27, 2025: Indian benchmark indices, now less than 3 per cent below their all-time highs, are poised to rise for a fourth straight session, buoyed by positive global cues. The early indicator of Nifty50 performance -- GIFT NIFTY -- was up 112 points or 0.44 per cent at 25,727 as of 7:45 AM. Equity markets in Asia advanced, tracking gains on Wall Street, driven by hopes for a rate cut and easing geopolitical tensions. Last checked, Japan's Nikkei was higher by 1.5 per cent, and China's CSI 300 was up 0.8 per cent. Gains in stocks come amid reports that the US and China have finalised a trade understanding that was reached last month in Geneva. Overnight, US equity indices briefly topped their all-time high as tensions between Iran and Israel eased. Further, the first quarter consumer spending growing at the weakest pace since the pandemic has triggered hopes for an early rate cut. The S&P 500 index closed 0.8 per cent higher, while the Dow Jones Industrial Average was up 0.94 per cent. Back home, on Thursday, the BSE Sensex settled 1000.36 points or 1.21 per cent higher at 83,755.87, while the Nifty50 rose 304.25 points or 1.21 per cent to end at 25,549.00. Track LIVE Stock Market Updates Here Meanwhile, below are some stocks to watch during today's session: New India Assurance Company: The company said tax authorities have issued a show cause notice with a demand of ₹2,298 crore Goods and Services Tax (GST) for five financial years. It has received a show cause notice dated June 26, 2025, from the office of the Additional Commissioner, Mumbai-South, and Maharashtra state. Tata Power: The company has applied to distribute electricity to various pockets of Maharashtra as part of its efforts to expand beyond the financial capital, according to a PTI report. The company has filed for a license across key growth regions, including parts of Mumbai, Pune, Sambhaji Nagar and Nashik. Arkade Developers: The realty major has acquired redevelopment rights for a society located in Bangur Nagar, Goregaon West, with a revenue potential of ₹350 crore. The society is spread across 1.1 acres and offers a saleable area of approximately 86,000 square feet. Hitachi Energy India: The firm secured an order from Power Grid Corporation of India to deliver 30 units of 765-kilovolt (kV), 500 megavolt-ampere (MVA), single-phase transformers. These ultra-high voltage alternating current (UHV AC) transformers are capable of handling power equivalent to the average consumption of 30 million households in India. AstraZeneca: The global bio-pharmaceutical major has established its state-of-the-art Global Hub in Bengaluru, investing ₹166 crore to focus on the development of AI-powered healthcare solutions, as per a PTI report. The new facility in Bengaluru is designed to accommodate nearly 1,300 employees, including 400 new jobs. HCL Technologies: The tech major launched its orchestration consultation and implementation services, aimed at accelerating enterprises' adoption of Salesforce Agentforce across various industries. Embassy Developments: On Thursday, the company acquired 100 per cent equity in Squadron Developers for ₹456.61 crore, making it a wholly owned subsidiary as part of its ongoing growth strategy. Sterling Tools: The company received a GST Show Cause Notice alleging short payment, interest, and excess ITC claim, with a total demand of ₹9.96 crore, including interest and penalties, from CGST Dehradun. Premier Energies: The company announced the successful commissioning of its new 1.2 Gigawatt (Gw) TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana. It is one of the first few solar manufacturers in India to operationalise a TOPCon production line, capable of delivering solar cell efficiencies exceeding 25 per cent, the company said. UltraTech Cement: The cement maker commissioned its second cement grinding mill with a capacity of 1.8 million tonnes per annum (mtpa) at the company's unit in Maihar, Madhya Pradesh. After this, the company's consolidated domestic grey cement capacity stands at 186.86 mtpa. Power Mech Projects: The company has secured orders from the Bihar State Power Generation company to set up 13.66 Mw solar power projects under PM-KUSUM C2 Scheme in Bihar. Estimated revenue over 25 years through PPAs with Discoms is approximately ₹159 crore. Western Carriers: The firm secured a ₹230 crore, three-year contract from Jindal Stainless Ltd for integrated EXIM logistics, covering container transport, customs clearance, last-mile delivery, and related logistics services across multiple locations.
Time of India
6 days ago
- Business
- Time of India
Tata Power seeks distribution licence for new areas in state
Mumbai: Tata Power on Thursday submitted an application to the Maharashtra Electricity Regulatory Commission (MERC) for a distribution licence to distribute electricity in new areas across the Mumbai Metropolitan Region (MMR) and in other parts of the state. This includes a few locations within Mumbai, where it does not serve customers at present. "This area in Mumbai includes localities in Mulund, Bhandup, and parts of Kanjur-Powai where MSEDCL supplies power," an official said, adding that all the areas where it plans to set up a network are dominated by the state power utility. Sources indicated the migration of consumers from MSEDCL to Tata Power in the future for a cheaper tariff. The application before MERC identifies Chhatrapati Sambhaji Nagar, Badnapur, Jalna Taluka, Waluj MIDC, Nashik, Sinnar, Igatpuri, and Trimbak Talukas as key proposed areas for power distribution. Furthermore, the submission extends to a few parts of Mumbai, Thane, as well as territories encompassing Navi Mumbai Municipal Corporation (NMMC), Panvel Municipal Corporation (PMC), the full corridor from PMC to Jawaharlal Nehru Port Authority (JNPA), plus the Pune region, which includes Pune City, Haveli, Maval, Mulshi, and Khed Talukas. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Tata Power serves around 8 lakh customers in Mumbai, and its consumer base would expand by over 48,000 if it secures the power distribution licence for additional regions in the state. The company's biggest revenue generator is its transmission and distribution operations, contributing Rs 39,122 crore in revenue and Rs 5,553 crore in operating profit. Beginning with power distribution in Mumbai, Tata Power has since extended its operations to Delhi, Odisha, and Ajmer. Currently serving 12.8 million consumers, Tata Power aims to grow its customer base to 40 million within five years. "Tata Power can provide electricity to consumers across the state with the best customer services benchmarking in Delhi, Odisha, and Mumbai at competitive rates. Our distribution portfolio of 12.5 million customers will expand across Maharashtra," said a Tata Power spokesperson.
&w=3840&q=100)
Business Standard
6 days ago
- Business
- Business Standard
Tata Power applies to expand electricity distribution in Maharashtra
Tata Power has applied to distribute electricity to various pockets of Maharashtra as part of its efforts to expand beyond the financial capital, officials said on Thursday. The company has filed for a license across key growth regions, including parts of Mumbai, Pune, Sambhaji Nagar and Nashik, they added. It can be noted that through amendments made to the Electricity Act, private distribution companies are allowed to apply to serve various parts. However, they were hesitant to apply due to the high investments required for setting up such infrastructure. In 2022, Tata Power's rival Adani Group, with which it competes in Mumbai suburban areas, applied for select areas and expressed intent to invest up to Rs 5,700 crore towards the initiative. In the application submitted before the Maharashtra Electricity Regulatory Commission (MERC), seeking the grant of a distribution license to serve key regions across the state, the Tata Group company has evinced interest in serving areas like Chhatrapati Sambhaji Nagar, Badnapur, Jalna Taluka, Waluj MIDC, Nashik, Sinnar, Igatpuri, and Trimbak Talukas. It is also keen to serve the Municipal Corporation of Greater Mumbai (MCGM), Thane Municipal Corporation (TMC), Navi Mumbai Municipal Corporation (NMMC), Panvel Municipal Corporation (PMC), and the entire corridor from PMC to Jawaharlal Nehru Port Authority (JNPA), the officials said. Tata Power is also keen on serving the Pune region, including Pune City, Haveli, Maval, Mulshi, and Khed Talukas, they added. A public notice inviting objections and suggestions from citizens has been published as per the mandatory procedure, they said, adding that this will be followed by a public hearing. As per people in the know, Torrent Power and Adani have also undertaken similar efforts and the MERC is expected to hold hearings for their applications on July 22.
Hindustan Times
24-06-2025
- Business
- Hindustan Times
License bids of Adani Electricity and Torrent Power to be heard in July
Mumbai: On Monday, Maharashtra Electricity Regulatory Commission sought people's suggestions and objections for Adani Electricity's license bid to supply power to Thane district and Torrent Power's bids to supply power to Nagpur and surrounding areas. A public hearing on the matter is scheduled to take place on July 23. (AFP Photo) Torrent Power Limited has also applied for a licence to supply power to Vasai Virar Municipal Corporation, Kalyan Dombivali Municipal Corporation, Ulhasnagar Municipal Corporation and Thane Municipal Corporation along with that of Nagpur. Earlier, Adani Electricity Navi Mumbai Limited, a division of Adani Transmission Limited, had submitted a bid to acquire a license to supply power to Thane district and Torrent Power Limited, a Gujarat-based establishment, had applied for a licence to supply power in Nagpur and surrounding areas which has been on hold owing to opposition from activists and political parties. Thane district includes areas of Bhandup, Mulund, Navi Mumbai, Panvel, Kharghar, Taloja and Uran. Bhandup and Mulund, though considered a part of Mumbai, fall under Thane district as per Maharashtra State Electricity Distribution Company Limited's (MSEDCL's) records. The region, at present, draws power from MSEDCL. This is an attempt to provide options to the consumers to choose an entity which would provide electricity to their household. This is called Parallel Electricity Distribution Licence where Thane residents would get to choose between MSEDCL or Adani Electricity. Similarly, the residents of the island city of Mumbai have the options of Tata Power and BEST for power supply and those living in the city's suburbs have the options of Tata Power and Adani Electricity Mumbai Limited, to choose their power supplier. The Adani group is set to invest over ₹ 6,000 crore for the setting up of the new network, on the approval of the license. Power consumption in the region is estimated to grow at 8% CAGR over the next five years. The Navi Mumbai-Panvel belt is set to become a major hub of development and construction with projects like Adani group's Navi Mumbai International Airport and Mumbai Metropolitan Region Development Authority's (MMRDA's) planned projects in the region. Being a native of Nagpur, chief minister Devendra Fadnavis's keen interests on developing the region is set to increase the demand for power in Nagpur, owing to the push for industrialisation. On receiving necessary clearance from the Forest Advisory committee of the union environment ministry in April this year, Tata Power is developing Bhivpuri off stream open loop pump storage in Karjat area of Raigad district. The project has proposed a total investment of ₹ 13,000 crore which would greatly contribute to the clean energy landscape of India. With a 1800 MW Pumped hydro Storage Project to be located at Shirawata, Pune district and a 1000 MW Pumped hydro Storage Project at Bhivpuri, Raigad district, MSEDCL will eventually be able to supply power in Mumbai Metropolitan Region, sources said, Sources from MSEDCL said.
