Tata Power appoints three Independent Directors to its Board

India Infoline News Service | Mumbai | October 18, 2016 15:24 IST

The newly appointed Independent Directors reinforce Tata Power’s intent to attract high quality talent and expertise. Bansal is a Senior Advisor to TPG Capital (TPG), a leading global private equity fund, based in Mumbai.

Tata Power, India’s largest integrated power company, announced the appointment of Anjali Bansal, Vibha Padalkar, and Sanjay Bhandarkar as Independent Directors on the Board of the Company, effective from October 14, 2016. The appointments of Independent Directors are in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
 
The newly appointed Independent Directors reinforce Tata Power’s intent to attract high quality talent and expertise. Bansal is a Senior Advisor to TPG Capital (TPG), a leading global private equity fund, based in Mumbai. Vibha Padalkar is Executive Director and Chief Financial Officer at HDFC Standard Life Insurance Company Limited (HDFC Life) while Sanjay Bhandarkar is the former Managing Director of Rothschild's Investment Banking operations in India.
 
The appointment of all three Independent Directors was passed at a recently conducted Board meeting. The Company has also declared that none of the above named Independent Directors are related to any of the other Directors of the Company.

Tata Power Company Ltd is currently trading at Rs 78.5, up by Rs 0.95 or 1.23% from its previous closing of Rs 77.55 on the BSE.
 
The scrip opened at Rs 77.9 and has touched a high and low of Rs 78.8 and Rs 77.9 respectively. So far 2866832(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 20974.4 crore.
 
The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 82 on 10-Oct-2016 and a 52 week low of Rs 55 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 80.9 and Rs 77.4 respectively.
 
The promoters holding in the company stood at 33.02 % while Institutions and Non-Institutions held 50.71 % and 16.26 % respectively.
 
The stock is currently trading above its 50 DMA.

***Note: This is a NSE Chart

 

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