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Tata Power gains as MERC grants 25-year power distribution licence

India TV Business Desk 19 Aug 2014, 0:25:30 AM IST
India TV Business Desk
New Delhi: Tata Power rose 1.43 per cent on Monday on reports the state electricity regulator granted 25 years distribution licence to the company for supplying power in Mumbai and suburban areas.

MERC has allowed Tata Power Company to supply electricity in Mumbai city, parts of suburban areas including Bandra to Dahisar in Western suburbs; Chunabhatti to Vikhroli and Mankhurd in Eastern suburbs for 25 years.

The stock hit a high of Rs 94.60 and a low of Rs 91.90 during the day. The stock has hit a 52-week high of Rs 115.25 on 9 June 2014. The stock hit a 52-week low of Rs 67.36 on 6 September 2013.

The stock closed at Rs 92.00, up 1.43 per cent.