Tata Power surges over 3% after unit gets Rs 200 crore from Defence Ministry

NEW DELHI: Shares of Tata Power advanced as much as 3.68 per cent in early trade on Tuesday after the company informed the bourses that its strategic engineering division (Tata Power SED) has received a Rs 200 crore order from the Defence Ministry. The order includes supply of 20 launchers and eight command posts.

The Tata Power stock was trading 2.87 per cent higher at Rs 75.35 in early trade on BSE. The scrip opened at Rs 74.50 and touched a high and low of Rs 75.95 and Rs 74.50, respectively, in the first hour of trade. The BSE Power index was trading 1.12 per cent higher at 2,016 at around 9.47 am.

Pinaka Weapon System is one of the first 'Create in India' product designed and developed by Indian private sector industry in association with Armament Research and Development Establishment of the DRDO. Tata Power SED had delivered one regiment of Pinaka Launcher and Command Post during 2006-2010, which was then inducted in the Army.


Pinaka is an area weapon system which supplements the existing artillery gun at ranges beyond 30 km, and has a quick reaction time and high rate of fire.

Rahul Chaudhry, Chief Executive Officer of Tata Power SED, in a release said: “The company is proud to be part of successful development of one of the first ‘Create in India’ products. After the success of Pinaka, we remain committed to succeed in other Weapon System Development Programmes with DRDO on which we are already working on.”