Torrent Power

Torrent Power makes lowest bid for power supply contract, says report

"The government is likely to award contracts for 1,100-megawatts to Torrent Power," the report said

Torrent Investments unlikely to participate in 2nd auction for Reliance Cap

The only resolution done for a financial services company under special powers of RBI Section 227 was DHFL which was won by Piramal Group

Torrent Power soars 9% post Q3 results; announces special dividend

In Q3FY23, Torrent Power's consolidated net profit grew 88 per cent year-on-year at Rs 695 crore on account of higher income.

Stocks to watch: Eicher Motors, Voda Idea, Siemens, Bharat Forge, ONGC

Stocks to watch today: While Eicher Motors posted 62.4 per cent year-on-year (YoY) jump in the December quarter (Q3FY23) profit, Vodafone Idea's net loss widened 10.5 per cent YoY to Rs 7,990 crore

Torrent Power's net profit grows 88% to Rs 694.54 crore in December quarter

Torrent Power Limited on Tuesday posted an 88 per cent growth in its consolidated net profit at Rs 694.54 crore for the December quarter on account of higher income. The company had clocked a net profit of Rs 369.45 crore in the October-December period of fiscal 2021-22, Torrent Power Ltd said in a regulatory filing. Total income rose to Rs 6,526.44 crore in the December quarter from Rs 3,833.14 crore in the year-ago period. Its total expenses also soared to Rs 5,549.01 crore, compared to Rs 3,324.02 crore earlier. In a separate statement, the company said its board has approved an interim dividend of Rs 22 per equity share (including Rs 13 per equity share as a special dividend) for FY 2022-23. "The major reasons for improvement in the total comprehensive income for the quarter on y-o-y basis are increase in contribution from existing licensed distribution businesses due to improved performance and contribution from the operations in Dadra and Nagar Haveli and Daman and Diu which

Top headlines: Windfall tax cuts, Reliance Capital auction, and more

Business Standard brings you the top headlines at this hour

Torrent group bid not compliant, Reliance Capital lenders tell NCLT

The lenders, who are planning a second round of auction for Reliance Capital on January 19th, are seeking a higher valuation for the bankrupt company

Torrent group now offers Rs 8,640 crore upfront for Reliance Capital

Banking sources said the Challenge Mechanism auction process in the Reliance Capital resolution provided for bidding of only the NPV (net present value) amount and not the payment terms

Torrent Power to buy 1.1 Gw green energy capacity from ReNew Energy: Report

Ahmedabad-based Torrent Power has submitted a non-binding offer (NBO) for ReNew's solar and wind assets of 350 and 450 Mw for $450 million

Hinduja sweetens offer for RCap to counter Torrent group's winning bid

CoC decide whether Hinduja offer is legally valid or not as e-auction has ended

Hinduja group, Torrent, Piramal, Oaktree, bid for Reliance Capital

No takers for life and general insurance businesses of the bankrupt company, say sources

Torrent Power net profit rises 31 pc to Rs 484 crore in July-September

Torrent Power on Thursday posted over 31 per cent rise in its consolidated net profit at Rs 484.19 crore in September quarter compared to a year ago, mainly due to higher revenues. The consolidated net profit of the company was Rs 368.84 crore in the quarter ended on September 30, 2021, a BSE filing showed. Total income of the company rose to Rs 6,797.2 crore in the quarter from Rs 3,683.69 crore in the same period a year ago. Major reasons for improvement in the total comprehensive income for the quarter on y-o-y (year-on-year) basis are: increase in contribution from franchised distribution business due to reduction in T&D (Transmission and Distribution) losses on account of continuous and sustained focus on loss reduction activities and increase in electricity demand; improved performance of licensed distribution businesses, and net gain from trading of LNG (gas), among others, it stated. The company has an aggregate installed generation capacity of 4,160 MW comprising 2,730 MW

Tata Power, Adani Transmission: Is the bull-run over in power stocks?

Earlier this year, Power Grid Corporation, Adani Transmission, Tata Power and Torrent Power scaled record highs, but now are seen trading almost 11 - 22 per cent lower from their respective peaks.

Torrent Power and Sembcorp Industries in race to buy Vector Green Energy

The transaction is expected to have an equity value of 30 billion rupees ($377 million) and an enterprise value of 50 billion rupees

Succession at Torrent Group: Varun Mehta inducted into Torrent Power Board

After cousin Aman joins Torrent Pharma board, Varun Mehta, son of Sudhir Mehta, joins Torrent Power Board

Torrent Pharma expected to enter diagnostics space in next 2-3 months

A company called Torrent Diagnostics Private Ltd was incorporated in February this year and has a Torrent Pharmaceuticals executive director as one of its directors

Torrent Power to seek shareholders approval for raising Rs 2,000 cr

Company seeks the Members' approval for issuance of NCDs upto an aggregate amount of Rs 2,000 crore, within overall approved borrowing limit of the Company as a Special Resolution, stated AGM notice.

Torrent Power bags Rs 2,600-cr wind energy project in Karnataka from SECI

Torrent Power has bagged a 300 MW wind energy project worth Rs 2,600 crore in Karnataka from Solar Energy Corporation of India (SECI), according to a regulatory filing

Torrent Power posts Q4 loss of Rs 487 cr versus Rs 459 cr profit a year ago

Torrent Power's revenue from operations grew by 21 per cent to Rs 3,744 crore for Q4 of FY22 as against Rs 3,084 crore in Q4 of FY21

Torrent Power to acquire 50 MW solar plant from SkyPower Group

Torrent Power has inked a share purchase pact to acquire 100 per cent equity in a 50 MW solar plant of SkyPower Group at an enterprise value of Rs 417 crore. Torrent Power Ltd has entered into a Share Purchase Agreement (SPA) with SkyPower Southeast Asia III Investments Limited and SkyPower Southeast Asia Holdings 2 Limited (the Sellers) for the acquisition of 100 per cent securities of Sunshakti Solar Power Projects Private Ltd (the SPV special purpose vehicle). The SPV operates a 50 MW Solar Power Project in the state of Telangana. Long-term Power Purchase Agreement (PPA) for the Project is with Northern Power Distribution Company of Telangana Limited (NPDCTL) for a period of 25 years at a fixed tariff of approx Rs 5.35 per kWh, with remaining useful life of about 20 years. The enterprise value for this acquisition is around Rs 417 crore, subject to closing price adjustments, if any, the company said in a statement. The acquisition is further subject to customary conditions for