TATA Company / Tata will spend Rs 2.28 crore every hour here, tension of Ambani and Adani increased

TATA Company: Ratan Tata's power company has increased the tension of Gautam Adani and Mukesh Ambani. Tata Power has planned to spend Rs 2.28 crore every hour in the current financial year. According to the information, Tata Power will spend most of its capital expenditure on renewable energy. Mukesh Ambani and Gautam Adani are also investing heavily in this sector. In such a situation, Ratan Tata's entry can increase the difficulties of both. Let us also tell you what kind of announcement has been made by Tata Power.

Plan to spend Rs 20 thousand crore

TATA Power will spend Rs 20,000 crore for capital expenditure in the current financial year 2024-25. Company Chairman N Chandrasekaran told the shareholders in the company's 105th Annual General Meeting (AGM) that a large part of the capital expenditure will be to accelerate the company's renewable energy portfolio. The rest of the amount will be spent on transmission and distribution business.

12 thousand crores were spent last year

Chandrasekaran, who is also the chairman of Tata Sons, said that Tata Power plans to make a capital expenditure of Rs 20,000 crore in 2024-25. This is much higher than the amount of Rs 12,000 crore invested in 2023-24. He said that Tata Power will also invest to take advantage of new distribution expansion opportunities in other states. Apart from this, the company will also explore the possibility of participating in small modular nuclear reactors after getting the necessary approval from the government.

What is the target

The chairman said that the company is aiming to add 15 gigawatts of clean energy capacity in five years from both existing and under-construction projects. This capacity is currently 9 gigawatts. He said that the company aims to add five crore consumers through expansion of distribution business, whose current number is more than 1.25 crore.

What is the share price of the company

On Tuesday, Tata Power's share closed with a slight decline. According to BSE data, Tata Power's share closed at Rs 436.90 with a decline of Rs 2.30. However, the company's share opened at Rs 441. During the trading session, the company's share also reached a day's high of Rs 445.25. At present, the company's market cap is Rs 1,39,604.38 crore. In the current year, Tata Power's share has earned more than 32 percent to investors.