Tuesday saw a nearly 6% increase in Tata Power Company’s stock, which by early afternoon on the NSE had reached Rs 445. The increase comes as it was revealed that Tata Power subsidiary TP Solar has started producing solar cells for sale at its recently opened facility in Tirunelveli, Tamil Nadu.
The 4.3 GW plant, which is outfitted with cutting-edge TOPCon and Mono Perc technologies intended to improve solar cell efficiency, is the biggest single-location solar cell and module production plant in India.
This invention is anticipated to greatly increase domestic manufacturing capacity and help India achieve its ambitious goals for net-zero energy and solar energy. Following the successful launch of its solar module production, TP Solar, a subsidiary of Tata Power Renewable Energy Limited (TPREL), has started commercial production with a 2 GW solar cell line.
Within the next four to six weeks, the remaining 2 GW of capacity should be online, and within a few months, it will reach full production capacity. This development demonstrates Tata Power’s dedication to strengthening India’s solar manufacturing sector and assisting the nation’s shift to renewable energy sources.
Over a range of periods, the Tata Power shares have shown good returns. The stock produced a positive return of 5.76% during the previous month. With returns of 11.70% during the last half-year, it demonstrated great momentum and a strong performance.
The stock’s strong tendency was further highlighted by year-to-date numbers, which showed an amazing gain of 33.95%. With more than 62.71% gains during the past year, the shares have demonstrated steady performance over a longer time horizon.
