Updated Jul 6, 2024 | 07:23 PM IST
Tata Power’s wholly owned subsidiary Tata Power Solar Systems Ltd launched the ‘Ghar Ghar Solar’ initiative in Uttar Pradesh. Furthermore, consumers can receive a maximum subsidy of up to Rs. 1,08,000 on rooftop solar installations. This includes a Central Government subsidy of Rs. 78,000 for installations up to 3 kW.
Tata Power share price target (iStock)
Shares of Tata Power Limited are in focus following the announcement of a rooftop solar offering. On Friday, the shares of sustainable energy solutions provider opened flat at Rs 436.50 per share and closed in green surging 0.76% from the previous close. The Tata Group stock quoted a 52-week high of Rs 464.3 and a 52-week low of 216.95 on BSE.
Tata Power rooftop solar energy
Tata Power’s wholly owned subsidiary Tata Power Solar Systems Ltd launched the ‘Ghar Ghar Solar’ initiative in Uttar Pradesh, rolling out rooftop solar offerings from the city of Varanasi.
According to Tata Power’s recent press release, the ‘Ghar Ghar Solar, Tata Power ke Sang’ initiative promises significant financial savings and environmental benefits for residents through advanced Rooftop Solar Solutions (RTS).
Tata Power ‘Ghar Ghar Solar’ benefits
Consumers can receive a maximum subsidy of up to Rs. 1,08,000 on rooftop solar installations. This includes a Central Government subsidy of Rs. 78,000 for installations up to 3 kW, supplemented by an additional State Government subsidy of up to Rs. 30,000 (Rs. 15,000 per kW) for installations also up to 3 kW.
Tata Power share price target
Meanwhile, brokerage house Kotak Institutional Equities has assigned a SELL rating to Tata Power shares. The firm cited the CMP of Rs 436 in their report dated July 5, 2024, and set the fair value of Rs 265 for the company.
On Friday, shares of Tata Power closed at Rs 439.80 per share, 0.76% higher than the previous close of Rs 436.50 per share. The stock touched an intraday high of Rs 440.20 per share and intraday low of Rs 433.95 per share on BSE.
Tata Power Share price history
According to BSE data, the Tata Group stock has demonstrated a robust performance gaining 106.72 per cent in the last two years. Furthermore, shares of Tata Power have gained a healthy 29.09 per cent in the last six months and delivered 249.32 per cent, and 522.51 returns in the last three and five years, respectively, as of July 5.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
