Tata’s company will change the fortunes of the bankrupt firm, increased share purchases

The stock of Tata Group’s company Tata Power, which has been trading with gains in the stock market for the last two trading days, continues to gain momentum. Buying of Tata Power shares increased in Thursday’s trading. Today on Friday, the company’s shares are trading at Rs 232.50 with a gain of 0.11 per cent on NSE. Let us tell you that the main reason for this increase is a big success of Tata Power.

What is success: In fact, Tata Power’s Singapore-based joint venture Resurgent Power Ventures has won the bid to acquire stressed assets of South East UP Power Transmission Company Limited (SEUPTCL). The company has won this bid through its resolution process under the Insolvency and Bankruptcy Code (IBC). Let us inform you that Tata Power has a 26 percent stake in the joint venture through its wholly owned Singapore-based Tata Power International Pte Ltd. While the remaining 74 per cent stake is held by private sector ICICI Bank and others.