Tata Power Company Ltd.

Tata Power Company is currently trading at Rs. 92.10, down by 2.20 points or 2.33% from its previous closing of Rs. 94.30 on the BSE.

The scrip opened at Rs. 93.40 and has touched a high and low of Rs. 93.95 and Rs. 92.05 respectively. So far 106989 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 133.00 on 05-Jul-2011 and a 52 week low of Rs. 80.65 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 95.20 and Rs. 90.20 respectively. The current market cap of the company is Rs. 22022.11 crore.

The promoters holding in the company stood at 31.81% while Institutions and Non-Institutions held 48.43% and 16.53% respectively. 

The rating agency Moody's Investors Services has placed Tata Power’s Ba3 corporate family rating, B1 senior unsecured bond rating and Senior Unsecured MTN Programme (foreign currency) rating of (P) B1 on review for downgrade. The ‘Ba3’ rating indicates higher credit risk. 

The rating action reflects material covenant breaches on bank debt associated with 4,000 MW Mundra UMPP and questions relating to the project's long-term impact on its financial profile, absence of changes to tariff structures. The Mundra project is being executed by Coastal Gujarat Private (CGPL), a wholly-owned subsidiary of Tata Power.

Further, to provide protection to CGPL and support its cash flows, Tata Power has already proposed to transfer atleast 75 per cent of its equity interest in the Indonesian coal mines and also continues to evaluate other alternative options.