The company with its discretion offers a discount of not more than 5% on the floor price.
Shares of Torrent Power ended at Rs 1,581.10 on the NSE today, gaining by Rs 70.40 or 4.66%.
Torrent Power is a power sector company promoted by the Rs 41,000 crore worth Torrent Group. It is an integrated power utility and is one of the largest private sector players in India having interests in power generation, transmission, distribution and manufacturing and supply of power cables, the company website claims.
Shares of Torrent Power have rallied 63% in the past 12 months while yielding 67% on the year-to-date basis. This is a significant outperformance over Nifty which has delivered returns of 17 and 12 in the respective periods.
The stock is currently trading above its 200-day simple moving average (SMA) of Rs 1,557 while below its 50 DMA of Rs 1791 according to Trendlyne.The company reported a consolidated net profit of Rs 481 crore in the quarter ended September 30, 2024 which was down from Rs 525.9 crore reported by the company in the corresponding quarter of the previous financial year. Total revenue in Q2FY25 stood at Rs 7,301 crore which was up from Rs 7,069 crore posted by Torrent Power in the year ago period.Also Read: Nifty logs positive Dec returns 6 times in 10 years; seasonality favourable for FIIs & DIIs too
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