Tata Power Renewable Energy Limited (TPREL), the flagship company of Tata Share, has announced a huge project in collaboration with SJVN Limited. Under this project, they have set up a 460 MW capacity Firm and Dispatchable Renewable Energy (FDRE) plant which will ensure production efficiency by combining solar, wind and battery storage technologies.
The establishment of this FDRE plant will further increase the stability of power production and this plant will generate about 300 crore units of electricity annually. Moreover, the project is expected to offset 220 crore kg of carbon emissions, making this investment not only sustainable but also beneficial from an environmental perspective.
Recently, shares of Tata Power touched record high in the market. Tata Power shares closed 0.68% down at Rs 454.60 on BSE on Friday, while it has seen a growth of 127% in the entire year.
What will happen next in TATA Share?
According to market experts, there is a possibility of rise in Tata Power shares. Stockbox analyst Avdhoot Bagkar says shares could reach Rs 490 level
While according to Abhijeet of Tips2Trades, the stock has chances of next breakout despite the overbought condition. Still, investors should continue booking profits as the stock may fall to Rs 384 levels in the near future.
