Power Stock:Torrent Power Ltd shares were in focus today on Monday. The company's stock saw a rise of up to 2% today and the stock reached an intraday high of Rs 1797.50. There is an investment related announcement behind this rise in the shares. In fact, Torrent Power on Monday committed to invest Rs 64,000 crore for renewable energy projects. The company said that this will provide employment to about 26,000 people. Let us tell you that this stock of the power company has given a return of up to 150% in the last one year. So far this year, this stock has seen a rise of up to 90%.

what is the detail

Torrent Power Limited, an integrated power company of the diversified Torrent Group, has reaffirmed its commitment towards a green and sustainable future. The company on Monday submitted two 'Affidavits' to the Union Ministry of New and Renewable Energy at the fourth edition of the 'RE-INVEST' event in Gandhinagar. 'RE-INVEST' is organised by the Ministry of New and Renewable Energy in collaboration with CII.

what the company said

According to the statement, the company has submitted an 'affidavit' to achieve 10 GW of installed renewable energy (RE) capacity by 2030 with an investment of Rs 57,000 crore. This investment is expected to provide direct and indirect employment to around 25,000 people. The second 'affidavit' is for a green ammonia production plant with a capacity of one lakh kilo tonne per annum (KTPA) with an investment of Rs 7,200 crore. According to the company, this is expected to provide employment to around 1,000 people.