Tata Power rises as its arm signs agreement for sale of its 50% stake in OTP Geothermal

Tata Power Company Ltd. | Power Generation/Distribution | Power | BSE: 500400 | NSE: TATAPOWER

08 Apr 2016 Evaluate

Tata Power Company is currently trading at Rs. 64.55, up by 0.45 points or 0.70% from its previous closing of Rs. 64.10 on the BSE.

The scrip opened at Rs. 64.65 and has touched a high and low of Rs. 65.45 and Rs. 64.30 respectively. So far 399346 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 82.15 on 15-Apr-2015 and a 52 week low of Rs. 55.00 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 70.00 and Rs. 60.60 respectively. The current market cap of the company is Rs. 17539.52 crore.

The promoters holding in the company stood at 33.02% while Institutions and Non-Institutions held 50.96% and 16.01% respectively.

Tata Power International (TPIPL), a Singapore company & wholly owned subsidiary of Tata Power has signed an agreement with KS Orka Renewables for the sale of its 50% stake in OTP Geothermal (OTP). The aggregate cash consideration for TPIPL’s 50% stake is $30 million.

OTP, a 50:50 joint venture with Origin Energy, holds a 95 percent interest in Indonesia’s PT Sorik Marapi Geothermal Power (SMGP). SMGP is currently pursuing development of 240 MW Sorik Marapi Geothermal Power Project in North Sumatra. The transition is expected to benefit the project development.

The company has significant investments in Indonesia and remains committed to development of Indonesian power and energy sector. The company’s other investments in Indonesia include investments in PT Kaltim Prima Coal, PT Arutmin Indonesia and PT Baramulti Suksessarana Tbk. The divestment of the company’s interest in OTP is consistent with the company’s strategy to constantly review its businesses and restructure, as required, to deliver long term value to shareholders.

The sale is subject to customary conditions precedent (CPs) including approvals from relevant Indonesian government authorities. The company targets to complete the sale in next three months subject to satisfaction of the conditions stated above.

Tata Power is India’s largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of [9100] MW and a presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

Tata Power Share Price

436.00 -3.20 (-0.73%)

08-May-2026 16:59 View Price Chart

Peers

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