Tata Power jumps as Indian state clears new deal to resume long‑term supply

Tata Power

20/03/2026 04:46

** Shares of Tata Power TTPW.NS rise as much as 5% to 418.45 rupees

** TTPW rises the most since May 2025

** India's Gujarat state approved a revised power supply pact with TTPW, per govt document seen by Reuters

** Pact paves way for clearing long‑term electricity supply to resume from its 4 gigawatt imported coal-fired Mundra plant

** The plant ​in has not operated for the past six months after govt last ‌year ⁠withdrew the emergency clause that compensates for generating power using expensive imported coal

** The deal needs approval from the federal power regulator and would take effect retrospectively from April 2025.

** Tata Power and the Gujarat government did not immediately respond to emails seeking comments

** Analysts have a "buy" rating on avg; median PT is 388 rupees - data compiled by LSEG

** YTD, TTPW up ~10%

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))