Tata Power shares rise post EV charging deal

17 Sep 2024 CW Team

Tata Power shares jumped 2.2% on the BSE, reaching an intraday high of Ra 449.5, following the announcement that its subsidiary, Tata Power EV Charging Solutions, signed a memorandum of understanding (MoU) with Tata Motors to establish fast-charging stations in metro cities. By 11:25 AM, Tata Power shares were up 1.11% at Rs 444.7, while the BSE Sensex dropped 33.93 points to 82,928.78.

Under this MoU, the two companies plan to set up 200 fast-charging stations for electric commercial vehicles (CVs) across major cities like Mumbai, Delhi, Chennai, Bengaluru, and Kolkata. These stations aim to provide charging solutions for small electric CVs, with exclusive tariffs designed to reduce operating costs and increase profitability for customers. Tata Motors and Tata Power plan to make nearly 1,000 fast chargers accessible to electric CV users soon.

ICICI Securities had maintained a 'Buy' rating for Tata Power in its August 7 report, setting a target price of Rs 500. The brokerage views Tata Power as a comprehensive power solutions company, spanning electricity generation, distribution, trading, solar manufacturing, and Engineering, Procurement, and Construction (EPC) projects. Tata Power is currently setting up a 4 GW solar cell and module manufacturing plant in Tamil Nadu, expected to bolster supplies for its EPC and utility-scale projects and potentially improve margins.

On September 9, Tata Power announced the commencement of commercial production at its 2 GW solar cell line in Tirunelveli, Tamil Nadu. Additionally, as of June 2024, the company's solar rooftop and utility-scale EPC order book stood at Rs 130 billion.

Over the past year, Tata Power shares have surged 67.3%, significantly outperforming the BSE Sensex, which has risen 23% in the same period. (Business Standard)

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..