Tata Power gains on inking agreement to sell 30% stake in Arutmin

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

03 Feb 2014 Evaluate

Tata Power Company is currently trading at Rs. 75.35, up by 1.40 points or 1.89% from its previous closing of Rs. 73.95 on the BSE.

The scrip opened at Rs. 75.45 and has touched a high and low of Rs. 76.60 and Rs. 75.00 respectively. So far 51,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 103.40 on 04-Feb-2013 and a 52 week low of Rs. 68.25 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 76.60 and Rs. 71.45 respectively. The current market cap of the company is Rs. 17,798.00 crore.

The promoters holding in the company stood at 32.47% while Institutions and Non-Institutions held 48.56% and 15.78% respectively.

Tata Power Company, through its wholly-owned subsidiaries, has signed an agreement to sell its 30% stake in PT Arutmin Indonesia (Arutmin) and associated companies in coal trading and infrastructure, to a Bakrie Group entity. The aggregate consideration for Tata Power’s 30% stake is approximately $500 million, subject to certain closing adjustments. The sale is subject to certain conditions and restructuring actions, which the company targets to complete in the next three months.

Tata Power has decided to take the above step in order to get additional cash flow and to reduce its consolidated debt as it is facing under-recovery challenges in its Mundra UMPP operations and has got some cash flow concerns. Arutmin, is a mine spread over a number of pits in South Kalimantan, Indonesia and considering the present coal price scenario, it has started posing production and cost viability challenges in its operations.

The company, however, continues to hold its equity stake in PT Kaltim Prima Coal (KPC), which owns one of the largest thermal coal producing mines in the world. KPC will also continue to be a part of the supply chain for Tata Power Group’s coal off-take requirements.

Tata Power Share Price

441.35 -3.20 (-0.72%)

04-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
NTPC	400.00
Tata Power	441.35
Adani Power	227.50
Power Grid Corp	319.25
Torrent Power	1722.35
View more..

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