Coastal Gujarat Power Limited repays Rs. 1550 crore of bank loans

Coastal Gujarat Power Limited (CGPL), a wholly owned subsidiary of The Tata Power Company Ltd, has repaid Rs. 1,550 crore of bank loans on 2nd December 2020.

With this repayment and the earlier repayment of Rs. 2,600 crore of bank loans made in October 2020, the entire bank loans of CGPL aggregating to Rs. 4,150 crore have been fully repaid. After this repayment, CGPL's long term debt comprises only Rs. 3,790 crore of bonds and debentures.

This action is in line with the Company's stated objective of repaying debt in CGPL to reduce the periodic debt servicing obligations of CGPL and thus make its operations more self-sustainable.

Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.67.95 as compared to the previous close of Rs. 68.75. The total number of shares traded during the day was 3092398 in over 5389 trades.

The stock hit an intraday high of Rs. 69.7 and intraday low of 66.75. The net turnover during the day was Rs. 210739550.

Source : Equity Bulls

Keywords