Tata Power jumps up over 3%

Tata Power is in the limelight today. The stock price is up 3% at Rs.75 levels, with volumes surging over 1.2 times. Its 52-week high is at Rs.84.45.

The company’s  strategic engineering division, Tata Power SED has received an order from, Ministry of Defence, Government of India for the supply of one regiment of command post and launcher of Pinaka multi rocket launcher system (MRLS) to Indian Army. The order is worth over Rs 200 crore includes supply of 20 launchers and 8 command posts.

The company has said that this Pinaka weapon system is one of the first 'Create in India' product designed & developed by Indian private industry in association with Armament Research and Development Establishment (DRDO).

This is a repeat order for the Pinaka weapon as the company has already delivered this weapon in the period of 2006 to 2010, which was then inducted in the Army.