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The company also aims to engage in power generation, transmission, and distribution projects using both conventional and non-conventional energy sources. It plans to develop and manage generation facilities independently or on a cooperative basis for industrial and other consumer groups, including partnerships with state electricity boards and other authorities.
The subsidiary has been incorporated with an authorized share capital of Rs 5 lakh and a paid-up share capital of Rs 5 lakh (50,000 equity shares of Rs 10 each). Operations are yet to commence.
The company received a certificate of incorporation for Torrent Urja Projects on 10 April 2025.
Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution.
The company’s consolidated net profit jumped 32.19% to Rs 475.66 crore in Q3 FY25 as against Rs 359.83 crore posted in Q3 FY24. Revenue from operations grew by 2.09% year on year to Rs 6,499.38 crore in the quarter ended 31 December 2024.
Oil & gas shares jumped after declining in the past trading session.
At 14:28 IST, the barometer index, the S&P BSE Sensex, soared 1,090.76 points or 1.48% to 74,937.91. The Nifty 50 index surged 369.30 points or 1.65% to 22,768.45.
In the broader market, the S&P BSE Mid-Cap index rallied 1.61% and the S&P BSE Small-Cap index surged 2.78%.
The market breadth was strong. On the BSE, 3,053 shares rose and 829 shares fell. A total of 146 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 6.12% to 20.12.
Buzzing Index:
The Nifty Oil & Gas index jumped 1.92% to 10,233.60. The index shed 0.27% in the past trading session.
Gujarat State Petronet (up 5.08%), Oil & Natural Gas Corpn (up 3.87%), Gujarat Gas (up 3.65%), Oil India (up 2.8%), Reliance Industries (up 2.75%), Mahanagar Gas (up 2.34%), Adani Total Gas (up 2.18%), GAIL (India) (up 2.07%), Bharat Petroleum Corporation (up 1.93%) and Castrol India (up 1.12%) advanced.
On the other hand, Aegis Logistics (down 1.18%), Petronet LNG (down 0.66%) and Indraprastha Gas (down 0.35%) edged lower.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was jumped 1.52% to 6.538 as compared with previous close 6.440.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.1100, compared with its close of 86.6800 during the previous trading session.
MCX Gold futures for 5 June 2025 settlement gained 1.65% to Rs 93,535.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 1.56% to 93,440.
The United States 10-year bond yield grew 0.68% to 4.442.
In the commodities market, Brent crude for June 2025 settlement lost 21 cents or 0.33% to $63.12 a barrel.
Stocks in Spotlight:
Rail Vikas Nigam (RVNL) advanced 2.18% after the company emerged as the lowest bidder (L1) for a Rs 143.37 crore Southern Railway project to upgrade the electric traction system in the Salem division from 1x25 kV to 2x25 kV.
Sky Gold and Diamonds hit an upper circuit of 5% after the company secured a recurring export order of 200 kg per month from a reputed jewellery industry client.
Torrent Power added 1.51% after the company announced that its wholly owned subsidiary, Torrent Green (TGEPL) has incorporated a new subsidiary named Torrent Urja Projects (TUPPL) in Ahmedabad, Gujarat.
Power Grid Corporation of India Ltd rose 1.77% today to trade at Rs 293.9. The BSE Utilities index is up 0.43% to quote at 5172.84. The index is up 6.17 % over last one month. Among the other constituents of the index, NTPC Green Energy Ltd increased 0.47% and Torrent Power Ltd added 0.43% on the day. The BSE Utilities index went down 11.44 % over last one year compared to the 1.05% fall in benchmark SENSEX.
Power Grid Corporation of India Ltd has added 8.29% over last one month compared to 6.17% gain in BSE Utilities index and 0.29% drop in the SENSEX. On the BSE, 15416 shares were traded in the counter so far compared with average daily volumes of 3.68 lakh shares in the past one month. The stock hit a record high of Rs 366.2 on 25 Sep 2024. The stock hit a 52-week low of Rs 247.5 on 28 Feb 2025.
Additionally, TU38 will focus on the generation, transmission, distribution, purchase, procurement, sale, trading, import, export, and storage of power, hydrogen, and its derivatives. The company will also deal in all forms of non-conventional, renewable, green, and hydro power, along with other energy sources, including electrical power and energy in various aspects.
The subsidiary has been incorporated with an authorized share capital of Rs 5 lakh and a paid-up share capital of Rs 5 lakh. Operations are yet to commence.
The company has received certificate of incorporation for Torrent Urja 38 on 03 April 2025.
Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission, and distribution.
The counter slipped 2.03% to Rs 1,521.55 on the BSE.