Why Torrent Power’s Stock Jumped To A Record High

Bloomberg Quint | Feb 22, 2021 at 11:09 AM
  • Shares of Torrent Power Ltd. jumped to a record high after the electricity generator and transmitter emerged as the highest bidder for the sale of a 51% stake in power distribution companies in Dadra & Nagar Haveli, and Daman & Diu.
  • The bidding for the distribution business of the union territories was undertaken as part of the government’s initiative to privatise distribution utilities to usher in efficiency.
  • Torrent Power has an aggregate installed generation capacity of 3,879 MW, comprising 2,730 MW of gas-based capacity, 787 MW of renewable capacity and 362 MW of coal-based capacity.