Torrent Power gets the advantage of its Siemens contract
Torrent Power is currently trading at Rs 354.25, up by 5.30 points or 1.52% from its previous closing of Rs 348.95 on the BSE.
The scrip opened at Rs 352.00 and has touched a high and low of Rs 374.00 and Rs 350.00 respectively. So far 373738 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 351.00 on 02-Jul-2010 and a 52 week low of Rs 171.00 on 06-Jul-2009.
Last one week high and low of the scrip stood at Rs 351.00 and Rs 328.50 respectively. The current market cap of the company is Rs 17022.31 crore. The promoters holding in the company stood at 52.78% while Institutions and Non-Institutions held 25.39% and 21.83% respectively.
Torrent Power has signed a turnkey EPC Contracts with Siemens AG, Germany and Siemens, India, on July 02, 2010, for UNOSUGEN (the 382.5 MW Gas based Combined Cycle Power Project – the capacity expansion at the existing SUGEN Mega Power Project) and for the green field DGEN Project at Dahej SEZ (the 1200 MW Gas based Combined Cycle Power Project). While UNOSUGEN is being established under the aegis of Torrent Power, DGEN is being established under the aegis of Torrent Energy, the wholly-owned subsidiary of the Company.
Thus, approximately 1600 MW power generation capacity would be added in the Torrent fold within the next three years.
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