TATAPOWER

** Shares of Tata Power TTPW.NS fall as much as 2.1% to 387.5 rupees, last down 1%

** Co's Q2 consolidated net profit falls to 9.19 billion rupees (about $105 million) from 9.27 billion rupees a year earlier

** JP Morgan ("Neutral", PT: 400 rupees) says profit weighed down by losses incurred at Mundra power plant, but cushioned by healthy profitability of Odisha discoms and rooftop solar businesses

** CLSA ("Hold", PT: 395.60 rupees) says stock has run ahead of its fundamentals on a retail frenzy of power stocks, but co's Odisha discoms, new concession wins and pump storage remain key long-term positives

** Stock rated as "hold" on average by 21 analysts; median PT at 416 rupees - data compiled by LSEG

** YTD, stock down 0.5%

(Reporting by Mridula Kumar in Bengaluru)

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Nov 11 (Reuters) - India's Tata Power TTPW.NS plans to set up 10 gigawatts of solar wafers and ingots manufacturing plant, the company's chief executive Praveer Sinha said on a post-earnings call on Tuesday.

(Reporting by Sethuraman NR)

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NEW DELHI, Oct 10 (Reuters) - India plans to open up its electricity retail market for private companies, ending the dominance of state-run distributors in some states, according to draft regulations proposed by the federal power ministry.

The move will allow private companies such as Adani Power ADAN.NS, Tata Power TTPW.NS, Torrent Power TOPO.NS and CESC CESC.NS to strengthen their presence in the country.

(Reporting by Sethuraman NR and Sarita Singh; Editing by Sonia Cheema)

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Oct 2 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER RENEWABLES SIGNS PPA FOR 80 MW PROJECT

• PROJECT TO INTEGRATE SOLAR, WIND, AND BATTERY STORAGE

• PROJECT CAPEX IS ABOUT 12 BLN RUPEES

Source text: ID:nBSEbHzZv0

Further company coverage: TTPW.NS

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Sept 29 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER EV CHARGING PARTNERS WITH VE COMMERCIAL VEHICLES

Source text: ID:nNSEfdQMB

Further company coverage: TTPW.NS

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** Suzlon Energy SUZL.NS gains 2.7% to 59 rupees; set to rise for third straight session

** Wind energy solutions provider gets order for 838 MW from Tata Power Renewable Energy

** Says project will comprise 266 of co's wind turbines across states of Karnataka, Maharashtra, Tamil Nadu

** SUZL down ~6.7% YTD

($1 = 88.2880 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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By Sudarshan Varadhan and Sethuraman N R

SINGAPORE/NEW DELHI, Sept 4 (Reuters) - Coal prices in India will fall after revisions to taxes on the fuel that generates nearly 75% of the country's electricity, industry officials and analysts said, as a higher consumption tax is offset by the removal of a carbon levy.

That could push up domestic consumption at the expense of imports, they said, putting further pressure on already plunging global coal prices.

India's finance minister hiked consumption levies on coal to 18% from 5% on Wednesday. However, buyers no longer have to pay a flat carbon tax of 400 Indian rupees ($4.57) a metric ton, known as a cess.

"We anticipate an increase in demand for locally mined coal as the elimination of the cess makes it cheaper despite the higher consumption tax," said Ashis Kumar Pradhan, senior analyst at consultancy Wood Mackenzie.

Prices of power plant-grade fuel sold by Coal India COAL.NS, which produces three-quarters of Indian output, will now be 8.1%-19.8% cheaper for utilities and 5.6%-16.7% cheaper for other users such as smelters, according to Reuters calculations based on Coal India and Wood Mackenzie data.

The calculations tallied with estimates provided by the Coal Consumers Association of India to Reuters.

India is the world's second largest coal importer behind China, but imports are expected to fall as the price of grades typically shipped in from top supplier Indonesia will be 3.5% higher after the tax change, Pradhan said.

The lower effective taxes on coal are expected to help generators burning the fossil fuel to cut costs by 0.12 rupees per kilowatt hour, said Vikram V, analyst at Moody's ICRA unit.

That compares with ICRA's estimates of a 0.10 rupee per kWh decline in generation costs for solar power developers following a cut in tax rates on panels to 5% from 12%.

Coal India and the federal ministries for finance, power and coal did not respond to requests for comment.

The move will also benefit power producers and help revive plunging sales by state-run Coal India, which has grappled with tepid power demand and a rise in renewable power generation.

Ashok Khurana, vice chairman at India's Association of Power Producers, said the decision would help reduce generating costs.

"However its impact on consumer tariffs would depend on distribution companies," he added.

The move could result in lower tariffs if distribution companies pass on reduced procurement costs to consumers.

If the costs are not passed on, it could help improve the finances of debt-laden, state government-owned distribution companies, Khurana said.

($1 = 87.5060 Indian rupees)

(Additional reporting by Nikunj Ohri in New Delhi; Editing by Jan Harvey)

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** Shares of ACME Solar Holdings ACMO.NS rise 2.9% to 295.6 rupees

** Renewable energy co wins 50 MW solar-plus-storage project from Tata Power TTPW.NS at 4.43 rupees/unit tariff under a 25-year power purchase agreement

** Project to be commissioned within 24 months from signing of agreement

** Stock rated "strong buy" on avg; median PT is 350 rupees - data compiled by LSEG

** Stock up 25.4% YTD

(Reporting by Aleef Jahan in Bengaluru)

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MUMBAI, Aug 28 (Reuters) - India's Tata Power Renewable Energy plans to raise 15 billion rupees ($171.4 million) through the sale of bonds maturing in 15 years, three bankers said on Thursday.

It will pay a coupon of 7.65% and has invited commitment bids for the issue on Friday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 28:

* Size includes base plus greenshoe for some issues

($1 = 87.5060 Indian rupees)

(Reporting by Khushi Malhotra; Editing by Sumana Nandy)

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Updates recovery amount in headline and first paragraph

Aug 8 (Reuters) - India’s Reliance Infrastructure RLIN.NS said on Friday its New Delhi power distribution units will recover 284.83 billion rupees ($3.25 billion) in unpaid dues after the Supreme Court upheld their claims in a ruling earlier this week.

The dues stem from historical tariff shortfalls, where electricity prices approved by regulators did not fully cover the cost of supply.

Under a court-approved mechanism, the amount will be recovered from consumers over four years starting April 2024, likely through higher electricity tariffs.

On Wednesday, the Supreme Court ordered electricity regulators across India to clear deferred costs and unpaid dues owed to power distribution companies.

The court also instructed state regulators to conduct audits and submit recovery roadmaps.

Reliance Infra is part of the Anil Ambani-run Reliance Group. He is the younger brother of billionaire Mukesh Ambani.

In New Delhi alone, three distribution companies — including a unit of Tata Power TTPW.NS — had accumulated 272 billion rupees in unpaid dues as of the fiscal year ended 2021 and had to be paid within four year starting April 2024, according to the court document.

The Delhi Electricity Regulatory Commission will oversee the recovery process, which is expected to result in increased electricity bills for consumers in the national capital.

($1 = 87.6300 Indian rupees)

(Reporting by Sethuraman NR in New Delhi; Editing by Sonia Cheema)

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Aug 6 (Reuters) - India's state-owned Bharat Heavy Electricals Ltd (BHEL) BHEL.NS reported a wider first-quarter loss on Wednesday, hurt by lower demand for its power and industrial equipment products and rising costs.

The manufacturer's net loss more than doubled to 4.55 billion rupees ($52 million) in the quarter ended June 30, from 2.13 billion rupees a year earlier.

India's power demand fell 1.8% year-on-year to 481 billion units in the April-June period as early monsoons hampered construction activity and reduced air conditioning requirements.

That led to a slowdown in project orders for power equipment. BHEL's revenue from that segment, its biggest, fell 5.6% to 38.99 billion rupees.

The company, which accounts for 55% of India's total installed power generation capacity, said its revenue from operations was nearly flat at 54.87 billion rupees in the quarter.

BHEL's expenses, however, rose nearly 7% to 62.80 billion rupees, driven by a jump of 10.8% in the cost of raw materials and services.

BHEL's rival, Tata Power TTPW.NS missed quarterly profit estimates, weighed down by weak electricity demand.

Shares of the company closed 3.4% lower, ahead of results.

($1 = 87.6400 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Savio D'Souza)

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Aug 1(Reuters) - India's Tata Power TTPW.NS reported first-quarter profit below analyst estimates on Friday as weak electricity demand weighed.

The company's consolidated net profit rose 9.2% to 10.60 billion rupees ($121.2 million) in the quarter ended June 30 from 9.71 billion rupees in the year-ago period.

Analysts, on an average, had expected 11.16 billion rupees, per data compiled by LSEG.

Revenue from operations rose 4.3% to 180.75 billion rupees, powered by a 52.1% surge in renewables while revenue from some of its largest segments - transmission and thermal and hydro operations - declined.

For further results highlights, click (Full Story)

KEY CONTEXT

India's power demand fell 1.8% year-on-year to 481 billion units in the quarter ended June 30, as unseasonal rains and an early monsoon arrival curbed cooling needs.

Analysts noted peak demand, expected to hit 270 gigaawatt (GW), remained subdued, dipping 1% to 242.5 GW in June.

Renewable generation surged in the reported quarter, with April up 33% to 23 billion units (BU), May rising 17% to 25 BU, and June climbing 26% to 27 BU.

Thermal generation continued to decline, with coal-based output down 9% in both May and June.

PEER COMPARISON

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

APRIL-JUNE STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 87.4970 Indian rupee

(Reporting by Yagnoseni Das in Bengaluru; Editing by Ronojoy Mazumdar and Janane Venkatraman)

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By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, July 24 (Reuters) - Two firms of Indian conglomerate Tata Group are planning to raise around 20 billion rupees ($231.5 million) through the sale of bonds over the next few days, three bankers said this week.

Tata Power Renewable Energy, a subsidiary of Tata Power TTPW.NS, is likely to raise around 10 billion rupees through the sale of 10-year bonds, while Tata Communications TATA.NS could raise a similar amount through three-year notes, the bankers said.

The bankers requested anonymity as they are not authorised to speak to media.

The companies did not respond to a Reuters email seeking comment.

"Mutual funds would be buying the Tata Communications issue in most cases, while insurers are expected to line up for the renewable energy company issue," one of the bankers said.

Tata Communications would be tapping the corporate debt market after a gap of nearly two years and is in talks with foreign banks to manage the issue. Its notes are rated AAA by CARE Ratings.

In August 2023, the company raised 17.50 billion rupees through three-year bonds at an annual coupon of 7.75%.

The pricing for the planned issue should be around 100 basis points cheaper, two of three bankers said.

Meanwhile, Tata Power Renewable would be tapping the market for the second time this financial year. It raised 10 billion rupees through 15-year bonds at a coupon of 7.55% in April.

Tata Power Renewable's notes are rated AA+ by rating agencies. The firm has 53 billion rupees worth of bonds outstanding.

($1 = 86.3920 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

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July 4 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER COMPANY LTD - ACHIEVES 45,500 ROOFTOP INSTALLATIONS IN Q1

Source text: ID:nBSE9W8P11

Further company coverage: TTPW.NS

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July 3 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER COMPANY LTD - PLANS TO COMMISSION 1.7 GW UTILITY OWNED CAPACITY IN FY26

• TATA POWER COMPANY LTD - TARGETS 7.3 GW TOTAL OPERATIONAL CAPACITY BY FY26-END

• TATA POWER COMPANY LTD - TATA POWER RENEWABLE COMMISSIONS 752 MW OF SOLAR PROJECTS IN Q1 FY26

Source text: ID:nNSEbqqbbS

Further company coverage: TTPW.NS

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May 14 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER Q4 CONSOL NET PROFIT 10.43 BILLION RUPEES

• TATA POWER Q4 CONSOL REVENUE FROM OPERATIONS 170.96 BILLION RUPEES

• TATA POWER COMPANY LTD - DIVIDEND OF 2.25 RUPEES PER SHR

Further company coverage: TTPW.NS

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May 1 (Reuters) - India has extended the mandate for its imported coal-based power plants to operate at full capacity until June 30, a government circular showed on Thursday.

(Reporting by Sarita Chaganti Singh and Manvi Pant; Editing by Mrigank Dhaniwala)

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MUMBAI, April 25 (Reuters) - India's Tata Power Renewable Energy, a subsidiary of Tata Power, has accepted bids worth 10 billion rupees ($117.4 million) for 15-year bonds, three bankers said on Friday.

The company will pay an annual coupon of 7.55% and had invited bids from bankers and investors on Thursday, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 25:

*Size includes base plus greenshoe for some issues

($1 = 85.2130 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)

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MUMBAI, April 24 (Reuters) - India's Tata Power Renewable Energy, a subsidiary of Tata Power, plans to raise 10 billion rupees ($116.94 million) through a 15-year bond issue, three bankers said on Thursday.

The issuer has invited bids from bankers and investors later in the day, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 24:

*Size includes base plus greenshoe for some issues

($1 = 85.5170 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

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By Sarita Chaganti Singh

NEW DELHI, April 18 (Reuters) - India is planning to ease its nuclear liability laws to cap accident-related penalties on equipment suppliers, three government sources said, in a move mainly to attract U.S. firms that have been holding back due to the risk of unlimited exposure.

The proposal by Prime Minister Narendra Modi's government is the latest step to expand nuclear power production capacity by 12 times to 100 gigawatts by 2047 as well as provide a fillip to India in trade and tariff negotiations with the U.S.

A draft law prepared by the department of atomic energy removes a key clause in the Civil Nuclear Liability Damage Act of 2010 that exposes suppliers to unlimited liability for accidents, the three sources said.

India's atomic energy department, the prime minister's office and the finance ministry did not respond to requests seeking comment.

"India needs nuclear power, which is clean and essential," said Debasish Mishra, chief growth officer at Deloitte South Asia.

"A liability cap will allay the major concern of the suppliers of nuclear reactors."

The amendments are in line with international norms that put the onus on the operator to maintain safety instead of the supplier of nuclear reactors.

New Delhi is hoping the changes will ease concerns of mainly U.S. firms like General Electric Co GE.N and Westinghouse Electric Co that have been sitting on the sidelines for years due to unlimited risks in case of accidents.

Analysts say passage of the amended law is crucial to negotiations between India and the U.S. for a trade deal this year that aims to raise bilateral trade to $500 billion by 2030 from $191 billion last year.

Modi's administration is confident of getting approval for the amendments in the monsoon session of parliament, set to begin in July, according to the sources.

Under the proposed amendments, the right of the operator to compensation from the supplier in case of an accident will be capped at the value of the contract. It will also be subject to a period to be specified in the contract.

Currently, the law does not define a limit to the amount of compensation an operator can seek from suppliers and the period for which the vendor can be held accountable.

LAW GREW OUT OF BHOPAL DISASTER

India's 2010 nuclear liability law grew out of the 1984 Bhopal gas disaster, the world's deadliest industrial accident, at a factory owned by U.S. multinational Union Carbide Corp in which more than 5,000 people were killed.

Union Carbide agreed to pay an out-of-court settlement of $470 million in damages in 1989.

The current liability law effectively shut out Western companies from a huge market, and also strained U.S.-Indian relations since they reached a deal on nuclear cooperation in 2008.

It also left U.S. firms at a disadvantage to Russian and French companies whose accident liability is underwritten by their governments.

The draft law also proposes a lower liability cap on small reactor operators at $58 million, but is unlikely to alter the cap for large reactor operators from the current level of $175 million, the three sources said.

India is betting big on nuclear power to meet its rising energy demand without compromising on net-zero commitments, for which it proposes to allow private Indian companies to build such plants.

Indian conglomerates like Reliance Industries RELI.NS, Tata Power TTPW.NS, Adani Power ADAN.NS and Vedanta Ltd VDAN.NS have held discussions with the government to invest around $5.14 billion each in the sector.

($1 = 85.6320 Indian rupees)

(Reporting by Sarita Chaganti Singh, Editing by Raju Gopalakrishnan.)

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** Shares of Tata Power Company TTPW.NS rises 3.9% to 379 rupees, their biggest one-day gain in 3 months

** Stock among top pct gainers in the Nifty energy index .NIFTYENR, which is up 1.5%

** Integrated power co's unit signs pact with NTPC Limited NTPC.NS to develop a 200 MW renewable energy project

** Project valued at 45 billion rupees ($525.06 million); to be completed within 24 months

** Avg of analysts' rating on stock is "hold;" median PT is 423 rupees - data compiled by LSEG

** Stock down 4% YTD vs 6.5% fall in Nifty energy index

** NTPC last up 1.4%

($1 = 85.7050 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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