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Tata Power Company Ltd informed the BSE that it has posted a net profit (after tax and statutory appropriations) of Rs 141.89 crore for the third quarter ended December 31, 2009 as compared with Rs 101.08 crore in the corresponding quarter in 2008. Total income for the quarter has decreased to Rs 1,611.68 crore from Rs 1,822.87 crore in the year-ago period.

(The Hindu Business Line) Tata Power on Thursday announced it would acquire a 11.4 per cent stake in Geodynamics Ltd, an Australian company specialising in geothermal energy, for Rs 165 crore. Geothermal energy is the natural heat emanating from within the earth. When rain water comes into contact with heat it produces steam, which is used for producing power. The company would acquire 29.4 million shares of Geodynamics. After allotment it would be equivalent to 10 per cent of the increased share capital, according to a Tata Power press release. The shares will be acquired by Tata Power at an issue price of Australia $1.50 or about Rs 56.25. As a part of the investment, Tata Power will also get a directorship on the board of Geodynamics. Both companies have also agreed to review the potential of geothermal prospects outside Australia. This alliance also helps Tata Power in securing a foothold in the growing renewable energy market in Australia, the release said. Geodynamics has a marke...

Mukul Jain of Prabhudas Liladhar told CNBC Awaaz he expects Tata Power to go up by 20% in the next 3-4 months. According to him NTPC has a target price of Rs 360 in six months.

Tata Power to foray into shipping (Business Standard 19th Dec 2007) Tata Power, the country’s largest private sector power company, plans to foray into the shipping and logistics business in order to facilitate coal procurement for its power plants. The Tata group’s power arm also plans to raise Rs 4,000 crore from the international markets. The proposed move would also mark the group’s entry, which is present in a wide range of businesses from salt to steel, in the burgeoning shipping and logistics business.