Ind Ra affirms Torrent Power's commercial paper at 'A1+'; Stock trades lower

16 Jun 2022 , 12:22 PM

India Ratings and Research (Ind-Ra) has affirmed Torrent Power Limited’s (TPL) commercial paper (CP) at ‘IND A1+’.

According to the rating rationale report, TPL is an integrated power utility and is one of the largest private sector players in India, having interests in power generation, transmission, distribution and the manufacturing and supply of power cables.

TPL’s operating profitability is supported by the regulated cost-plus model of its distribution licensee business and generation assets, including AMGEN, SUGEN (around 79% of the net capacity) and UNOSUGEN (around 75% of the net capacity).

At around 12:26 PM, Torrent Power was trading at Rs470.10 per share down by Rs2.35 or 0.5% from its previous closing of Rs472.45 per share on the BSE.