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Tata Power Hits ₹1 Lakh Crore M-Cap, Becomes 6th Tata Jewel

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Tata Power Company Ltd made big waves in the market on Thursday, 7 December 2023, as it witnessed a remarkable 10% surge in its trade. The stock raced ahead as the most actively traded on the National Stock Exchange (NSE), marking its place as the sixth Tata Group enterprise to cross the coveted market capitalization (m-cap) milestone of ₹1 lakh crore, after Trent Ltd (₹1.01 lakh crore), Tata Consultancy Services Ltd (₹13.27 lakh crore), Titan Company Ltd (₹3.18 lakh crore), Tata Motors Ltd (₹2.40 lakh crore), and Tata Steel Ltd (₹1.60 lakh crore).

A Record High

As Tata Group’s stock soared by 9.55% to reach a record high of ₹322.25, it generated a turnover of ₹2,217 crore on the NSE, commanding an m-cap of ₹1,01,787.54 crore. In 2023, the stock yielded a return of 51.7% (closing at ₹207.7 on Dec 30, 2022) and surged by 72.7% from its 52-week low of ₹182.45 recorded in March 2023.

As of the end of the September quarter, individual shareholders, owning shares valued up to ₹2 lakh, collectively held a 23.33% stake in the Tata Group company, totaling 74,53,52,963 shareholders. The stock has surged 50% year-to-date.

What’s Driving The Stock Upsurge?

  • Strong financial performance exceeding market expectations.
  • Attractive investment in a rapidly growing clean energy sector.
  • Expansion plans to 20 GW of clean energy by 2030.
  • Government policies favoring renewable energy.
  • Investors seeking alternatives like renewables.
  • Proven execution and good management.
  • Short-covering and positive momentum contributing to rise.

Unveiling Forthcoming Plans

Tata Power unveiled plans for a ₹60,000 crore capital expenditure by FY27, with 45% allocated to renewable energy ventures. Emphasizing their commitment, the company announced intentions to invest roughly ₹13,000 crore in two pumped hydro storage projects generating 2.8GW. These initiatives aim to enable Tata Power to supply consumers with a consistent 24*7 renewable energy mix.

A Powerful Ascent

Tata Power’s ascent signifies a monumental achievement. The m-cap reaching ₹1,01,000 crore on the Bombay Stock Exchange (BSE) is a landmark milestone for Tata Power and a testament to the group’s overall accomplishments.

The company’s impressive market capitalization growth results from strong financial performance, strategic investments, and a steadfast commitment to renewable energy.

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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.

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