Tata Power share price fell by more than 2% during Thursday’s trading session after the company announced that an arbitral tribunal under the Singapore International Arbitration Centre (SIAC) has ordered it to pay $490.32 million in damages to Kleros Capital Partners.
The partial ruling, issued by a majority of 2:1, additionally stipulates that simple interest at a rate of 5.33% per year will be applied from November 30, 2020, until the payment is made. Furthermore, Tata Power is required to cover $8.29 million in legal expenses, with the same interest rate starting from July 1, 2025.
The matter involves Kleros Capital Partners Ltd, Tata Power’s Russian mining associate, which has asserted that Tata Power violated confidentiality and non-circumvention provisions in their Non-Disclosure Agreement related to a planned coal mining venture in Russia.
In a regulatory filing, the company indicated that it is evaluating the decision and might consider legal avenues to contest it.
Tata Power reported a nearly 25% increase in its consolidated net profit, reaching ₹1,306.09 crore for the March quarter of FY25, driven by robust performance in its core segments including generation, transmission, distribution, and renewables. The company had disclosed a consolidated profit of ₹1,045.59 crore for the quarter that concluded on March 31, 2024, according to a regulatory filing.
Total income grew to ₹17,446.95 crore in the most recent January-March quarter, up from ₹16,463.94 crore during the same timeframe a year earlier.
The company’s board has proposed a final dividend of ₹2.25 per equity share of one rupee each for the financial year that ended in March 2025.
Tata Power share price today
Tata Power share price today opened at ₹399.05 apiece on the BSE, the stock touched an intraday high of ₹403.95 per share, and an intraday low of ₹396.75 apiece.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Tata Power share price opened with a gap down but is currently holding above the crucial 200-day simple moving average (200DSMA). The zone near ₹395 acts as strong support, followed by the previous swing low at ₹385. On the upside, the recent swing high of ₹415 serves as immediate resistance.
“We expect the stock to remain range-bound between these levels, with the next directional move likely to emerge only upon a decisive breakout beyond this range,” said Rajesh Bhosale.
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