Torrent Power soars 9% on inking MoU with Maharashtra govt for 3 projects
Shares of Torrent Power hit new high of Rs 666, soaring 9 per cent on the BSE in Wednesday’s intra-day trade after the company said it signed a memorandum of understanding (MoU) with the Maharashtra government for setting up three Pumped Storage Hydro Projects of 5,700 MW capacity in Maharashtra.
The projects would entail an investment of about Rs 27,000 crore. Torrent plans to execute these projects over a period of five years. All the sites are off-stream and the projects are planned to provide a minimum of six hours of energy storage on a daily basis.
