Tata Power arm kicks off solar cell production in Tamil Nadu; stock jumps 7%

The company noted that it has allocated close to ₹4,300 crore for setting up this facility, which is central to Tata Power's vision of leading India's shift to renewable energy, especially in the solar rooftop and utility-scale markets, where it already holds a 20% market share and seeks to expand further through initiatives like PM Surya Ghar Yojana, it adds.

Tata Power's net profit increased by 4% year-on-year (YoY) to ₹1,189 crore for the June quarter, driven by improved operational efficiency, up from ₹1,141 crore in the same period last year. The company's revenue also saw a 12% YoY growth, reaching ₹16,810 crore in the first quarter, compared to ₹15,003 crore in the corresponding quarter of the previous year.