Tata Power shares increased 1.8% on 13 June after its subsidiary Tata Power Renewable Energy (TPREL) installed over 850 charging stations in key cities.

Tata Power Renewable’s charging infrastructure features chargers that range from 180-240 kilowatts (KW) and has an average charging time of 1 to 1.5 hours.  There are already around thirty bus terminals in cities like Bengaluru, Delhi, Mumbai, Ahmedabad, Jammu, Srinagar, Dharwad, Lucknow, and Goa that have charging stations built into them.

The company’s network of bus charging points has led to the prevention of more than 1 lakh tonnes of CO2 emission. 

In its regulatory filing, the company said, “While Delhi leads in e-bus presence utilising Tata Power’s EV Charging points, it is followed closely by Mumbai, Bengaluru, Ahmedabad, Jammu, and Srinagar.”

The filing added that the company is dedicated to promoting e-mobility adaptation and is fostering synergies with different OWM operators and enabling various state governments. 

Tata Power’s stock has increased by more than 35% this year compared to the benchmark Nifty 50 index, which has increased by 7% thus far. On 3 May 2024, Tata Power reached a 52-week high of Rs 464 per share.

At 2:12 pm, the shares of Tata Power were trading 0.15% higher at Rs 450.35 on NSE.