Torrent Power Company Update- Growth Acceleration: ICICI Securities
A transmission tower in California. (Photographer: David Paul Morris/Bloomberg)

Torrent Power Company Update- Growth Acceleration: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Torrent Power Ltd. has shown a marked aggression in its approach to grow in two business segments: renewables, and distribution.

Company has received LoAs for solar projects totaling 700 mega watt: 400 mega watt in Gujarat and 300 mega watt in Andhra Pradesh (currently subjudice).

In Gujarat, the company won 100 mega watt at tariff of Rs1.99/kWh in GUVNL’s auction and further 150MW at Rs 2.22/kWh (own discom, with greenshoe option for a further 150 mega watt).

It emerged as the highest bidder for Dadra & Nagar Haveli and Daman & Diu discom, bidding Rs 5.5 billion for 51% stake.

Click on the attachment to read the full report:

ICICI Securities Torrent Power Q3FY21 Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.