Shares of Torrent Power soared 5 per cent to Rs 549 on the BSE in Tuesday’s intra-day trade after the company emerged as the lowest (L1) bidder for supply of nearly 1,100 MW of gas-based power supply sought by the Indian government to meet anticipated record demand in the summer.
Since February 1, the stock of the integrated power utilities company has rallied 26 per cent, as compared to 1 per cent rise in the S&P BSE Sensex.
According to a Reuters report, Torrent Power has pipped Reliance Industries to emerge as the lowest bidder for the supply of 1,090 megawatts of gas-based power supply sought by the Indian government to meet anticipated record demand in the summer.
