Large-cap Tata Group Company Receives Order Worth Rs 1,744 Crore

Tata Power Company Ltd., on Wednesday, Jul 05, 2023, in a press release announced that it has bagged a project to implement a smart metering project worth Rs 1,744 crore in Chhattisgarh State Power Distribution Company Limited (CSPDCL).

The project shall be carried out in the Raipur area (Raipur city and Raipur rural areas) of Chhattisgarh. Tata Power will install and maintain 18.60 lakh meters in the given area, Tata Power said in a statement.

Tata Power receives order worth ~ ₹1,744 crore to implement Smart metering project in Chhattisgarh State Power Distribution Company Limited

Tata Power has received Letter of Award 'LOA' to implement smart metering project in Chhattisgarh State Power Distribution Company Limited (CSPDCL). The LOA has been issued in conclusion to the tender floated by CSPDCL for three packages for different areas under the Chhattisgarh Discom. Tata Power participated in package 2 and emerged as a winner. The value of Project awarded to Tata Power is ~₹ 1,744 crore and the project will be spanned over a period of 10 years.

Dr. Praveer Sinha, CEO& MD, Tata Power said "We are pleased to announce that we have won a significant order worth ₹ 1,744 crore to implement Smart metering project in Chhattisgarh State Power Distribution Company Limited. It is a testament to our execution expertise in delivering high value and specialized projects which are aimed at transforming the power distribution domain."

The Project shall include Design, Supply, Installation, Commissioning followed by Operation and Maintenance of smart meters at consumer end and at Distribution Transformers level. The project will be executed under Revamped Distribution Sector Scheme (RDSS) and is expected to improve the AT&C losses in the designated area and increase revenue collection for CSPDCL.

CSPDCL is a state-owned electricity distribution company responsible for providing electricity to consumers across the state of Chhattisgarh.

Stock Movement

Meanwhile, the shares of Tata Power Company ended at Rs 221.65 on BSE, 0.48% up compared to its previous close. It hit an intraday high at Rs 223.80 and an intraday low at Rs 220.05 on BSE. The stock hit the 5w-week high at Rs 251 apiece and a 52-week low at Rs 182.45 apiece, respectively.

The share jumped 1.63% in 1 week, while declined 1.18% in 2 weeks. It jumped 4.18% in the past 1 year and 76.05% in 2 years, respectively. It gave 343.745 positive returns in 3 years and 211.31% returns in 5 years, respectively.

It is a large-cap power sector company of Tata Group. It has a market capitalisation of Rs, 70,824.70 Crore.