Tata Power trades high on the bourses

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

25 Apr 2017 Evaluate

Tata Power Company is currently trading at Rs. 86.10, up by 0.15 points or 0.17% from its previous closing of Rs. 85.95 on the BSE.

The scrip opened at Rs. 86.80 and has touched a high and low of Rs. 86.85 and Rs. 86.10 respectively. So far 65084 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 91.25 on 03-Apr-2017 and a 52 week low of Rs. 67.10 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 86.85 and Rs. 83.20 respectively. The current market cap of the company is Rs. 23396.29 crore.

The promoters holding in the company stood at 33.02%, while institutions and non-institutions held 50.67% and 16.06% respectively.

Tata Power, India's largest integrated power company, has achieved complete zero cash payables. The company is working towards bringing down cash collections from its electricity customers albeit with regulatory support. This initiative by Tata Power complements the call given by Government of India to use digital and banking means to pay its employees, contractors and associates.

As part of this initiative of promoting cashless payments, Tata Power now makes payments to all its vendors, and employees through digital payment modes or via their bank accounts directly or through cheques. No cash is paid even for sundry advances. On the customers’ collection front, Tata Power is looking to reduce its cash intake by implementing initiatives such as ATPM (Automatic Payment machine) Machine to receive cash, Bharat bill payment system (BBPS) and UPI (Unified payment Interface), etc.

India is currently in the middle of an all-out movement to digitalize the way transactions are paid; and Tata Power is at the forefront of this campaign.