Tata Power MD Highlights Positive Trends in Private Capital Expenditure; stock zooms ~2%

11 Jan 2024 , 12:09 PM

Tata Power’s Managing Director and Chief Executive Officer, Praveer Sinha, stated on Wednesday that private capital investment has been ‘very good’. Sinha, who is also the head of industrial group CII’s Western Region, stated that he expects the forthcoming Union Budget to continue with the current policy framework.

Sinha stated that he thinks private investment has been very good.

According to him, the private sector is investing in emerging prospects and technologies such as artificial intelligence, sustainability, renewable energy, and semiconductor technology.

Sinha stated that India would continue to play a vital role in the global arena, reaffirming the private sector’s commitment to contributing its best in the process. Analysts are concerned about the private sector’s lack of enthusiasm in investing, which may be a significant growth engine for the economy, despite relatively high capacity utilization.

At around 12.05 PM, Tata Power was trading 2.08% higher at Rs 353.65, against the previous close of Rs 346.45 on NSE. The counter touched an intraday high and low of Rs 357.40 and Rs 347.85, respectively.

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