📈 Tata Power Share Price Soars by 7.64% After Maharashtra Electricity Regulatory Commission Approval 📈
Latest update on Tata Power: The company has received permission from the Maharashtra Electricity Regulatory Commission (MERC) to increase electricity rates. This news has had a significant impact on the company’s share price. Tata Power’s share closed at a new high of 7.64% on Thursday. Over the past year, the stock has delivered a 100% return.
According to reports, Tata Power has been granted permission from MERC to increase rates by 24% for the financial year 2025. The new rates will come into effect from April 1, 2024.
The approval of the price hike has had a positive impact on the movement of the share. The stock closed at Rs. 424 with a 7.64% increase at the end of trading. During intraday trading, the stock reached a high of Rs. 433.20, a new 52-week high. The 52-week low for the stock is Rs. 396.
On the BSE, the company’s market capitalization was Rs. 1.36 lakh crore.
Looking at the performance of Tata Power’s share, it has delivered returns of over 100% in the past year. In the last 6 months, the stock has given investors a 60% return, and in the last 3 months, it has delivered over 30% return.
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