India's Tata Power falls on arbitration order to pay $490 million to Kleros

Tata Power

03/07/2025 06:36

** India's Tata Power Company TTPW.NS falls as much as 2.5% to 396.6 rupees; last down 1.5%

** Singapore International Arbitration Centre asks co to pay $490 million in damages to its Russian mining partner Kleros, along with legal costs and interest

** Kleros claims TTPW breached confidentiality and non-circumvention clauses for proposed coal mining project in Russia

** ICICI Securities says the ruling will have a sentimentally negative impact on TTPW

** TTPW in process of reviewing the contents of the award and evaluating all options, including challenging the award

** YTD, TTPW up 2.2%

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com;))