Shares of Torrent Power are in news today on the acquisition of significant equity stakes in Newzone India Pvt Ltd (NZIPL) and its holding company Newzone Power Projects Pvt Ltd (NZPPPL) for a total consideration of Rs 211 crore. The company said: "11,95,110 equity shares of NZIPL and 30,00,000 equity shares NZPPPL of face value of Rs 10 each at a total consideration aggregating to Rs 211 crore...," in its official exchange filing. This move strengthens Torrent Power's presence in the Indian power sector. Advertisement

Torrent Power stock ended 0.84% higher at Rs 1279.20 on Bse in the previous session. Market cap of the firm stood at Rs 64,459 crore.

Following this acquisition, Torrent Power now holds 100 per cent of the equity share capital in NZPPPL and a 49 per cent stake in NZIPL. A

See Full Page