Tata Power shares rise 2% as its Mundra plant inks supplementary PPA with Gujarat Urja Vikas Nigam

This comes as the Tata Group firm’s arm, Coastal Gujarat Power Ltd (CGPL), which operates the Mundra plant, signed supplementary power purchase agreements (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL).

The stock was trading 0.05% higher at ₹387.15 per equity share as of 11:29 AM.

The scrip has declined by more than 3% over the last week but has gained 2% over the month. On a year-to-date basis, it has advanced 1%.

While the share hit a 52-week high of ₹418.45 on March 20, 2026, it touched a year’s low of ₹335 apiece on April 7, 2025.

According to a regulatory filing dated Tuesday, the company said that it will also sign similar supplementary PPAs with Maharashtra, Rajasthan, Punjab, and Haryana.

"With reference to the temporary suspension of company operations of its units located at Mundra, we hereby inform you that the Company has executed a Supplementary Power Purchase Agreement for Tata Power Mundra Plant with GUVNL (Gujarat)," Tata Power said.

The company had suspended operations at all units of the Mundra plant on July 2, 2025, and has incurred losses due to the temporary closure of the plant.

Earlier, the company had informed in a regulatory filing that the Gujarat cabinet had approved the supplementary PPA and a government order had been issued.

After regulatory clearances, the company and Gujarat Urja Vikas Nigam Ltd (GUVNL) will sign the agreement, it had said.

The company has been incurring losses due to the closure of units at the Tata Mundra plant, which is run by its arm Coastal Gujarat Power Ltd (CGPL).

Q3 results

Tata Power reported a 1% year-on-year (YoY) increase in its net profit to ₹1,194 crore for the December quarter of FY26, compared to ₹1,187 crore in the year-ago period.

Its revenue from operations declined 9% YoY to ₹13,948 crore for the quarter under review, as against ₹15,391 crore in Q3 of FY25.

Tata Power has a total market capitalisation of ₹1.24 lakh crore, as of March 24, 2026, according to data on the NSE.