Tata Power shares in focus today, here's why 

Shares of Tata Power are in news today as its subsidiary Tata Power Renewable Energy Limited (TPREL) has inked a power purchase agreement (PPA) with state-run NTPC to develop a 200 MW clean power project. "With this project, its total renewable utility capacity has reached 10.9 GW," said Tata Power. 

There is currently 5.5 GW of energy capacity in operation, consisting of 4.5 GW from solar sources and 1 GW from wind. Furthermore, another 5.4 GW is in various phases of development, split evenly into 2.7 GW of solar and 2.7 GW of wind projects. These projects are set to be completed in stages over the coming 6 to 24 months.

Tata Power stock gained 1.74% to Rs 364.50 on April 11 on BSE. Market cap of the firm rose to Rs 1.16 lakh crore. The stock is neither oversold nor overbought on charts, signals its relative strength index (RSI), which stands at 49.3. In terms of price action, the stock is trading higher than the 5 day, 30 day, 50 day but lower than the 10 day, 20 day, 100 day, 150 day and 200 day moving averages.

Tata Power shares rose 84% in two years. In five years, the stock delivered multibagger returns of 898%. However, the stock has lost 15.60% in a year and declined 21% in six months. 

The Firm and Dispatchable Renewable Energy (FDRE) project, which spans various sites across India, is on track for completion within the next 24 months. According to TPREL, this initiative is anticipated to produce about 1,300 million units (MUs) of electricity each year.

In addition to its energy output, the project aims to significantly reduce carbon dioxide emissions by over 1 million tonnes annually. TPREL secured this project through a competitive bidding process, which will integrate solar, wind, and battery energy storage system (BESS) technologies.