On Thursday, Tata Power shares gained nearly 3% in the early morning trade as the company acknowledged the Letter of Award (LoA) to a device smart metering project in Chhattisgarh State Power Distribution Company Limited (CSPDCL).

The LoA has been delivered in assumption with the tender floated by CSPDCL for three packages for diverse areas under the Chhattisgarh Discom.

Tata Power contributed to package 2 and appeared as a winner.
The project value is Rs 1,744 crore, which will be bridged over 10 years.

It is a testament to the firm’s execution expertise in bringing high-value and focused projects intended to transform the power distribution domain.

The project shall comprise design, supply, installation, and commissioning, followed by the process and maintenance of smart meters at the customer end and the distribution transformers level.

The project will be implemented under Revamped Distribution Sector Scheme (RDSS) and is predictable to recover the AT&C losses in the designated area and upsurge revenue collection for CSPDCL.

At 9:22 am, Tata Power Company was trading Rs 227.35, up Rs 5.70, or 2.57% on the BSE.