Tata Power stock powers up with strategic turnaround, deleveraging plans

Topics Tata Power | Tata group | InvIT

Shares of Tata Power have gained significantly over the past month-and-a-half, following developments related to the firm’s strategic turnaround and deleveraging plans. Given the positive implications for its balance sheet and reduction in concerns, there could be more gains, say analysts. According to the latest development, Tata Power will issue 490.57 million equity shares on a preferential basis to Tata Sons, at Rs 53 apiece. This will bring in Rs 2,600 crore — likely to be used for debt reduction. While the preferential issue is at a premium to its current price, i.....

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