Tata Power gains 2% on MoU with Tamil Nadu govt for Rs 3,000-cr solar plant

Shares of Tata Power Company gained 2 per cent to Rs 216 on the BSE in Tuesday's intra-day trade after the company signed Memorandum of Understanding (MoU) with Tamil Nadu government for Rs 3,000-crore investment to set up mega solar manufacturing plant. The stock was trading higher for the third straight day, having surged 7 per cent during the period.

The MoU is for setting up a greenfield 4GW solar cell and 4GW solar module manufacturing plant in Tirunelveli district of Tamil Nadu. The investment in the plant will be made over a period of 16 months.

"Tata