Torrent Power witnessed a surge, hitting a fresh 52-week pinnacle with a remarkable 13.5 percent uptick in trading on January 4. The catalyst for this significant climb was the power utility firm’s sealing of four lucrative contracts with the Gujarat government, amounting to a substantial Rs 47,350 crore.
These contracts, embodied in four non-binding memoranda of understanding (MoUs), outline the commitment of Torrent Power, the power utility arm of the diverse Torrent Group, to inject Rs 47,350 crore into ventures encompassing renewable energy, green hydrogen, and power distribution.
By 11:25 am, the shares experienced an impressive 8.60 percent surge, reaching ₹1,025.50 in the trading arena. The market’s response underscores the positive sentiment surrounding Torrent Power’s strategic collaborations and forward-looking investments in key sectors.
