Shares of slipped to a fresh 52-week low of ₹338.40 in early trade on Thursday, even as the stock was among the actives following the company’s floating solar partnership announcement the previous evening.
The stock was trading at ₹339.15 as of 10.33 am, down 1.74 per cent or ₹6 from Wednesday’s close of ₹345.15, with sell orders outpacing buys — 54.12 per cent sell versus 45.88 per cent buy on combined volume of over 9.83 lakh shares worth approximately ₹46.71 crore.
The stock opened firm at ₹347, touching an intraday high of ₹347.75, but reversed course within the first hour of trade.
The 52-week low of ₹338.40 touched today compares starkly with the 52-week high of ₹464.90 hit in April 2026. On a longer horizon, the stock has shed over 11 per cent year-to-date and 12 per cent over the past year, underperforming the Nifty Next 50, where it is a constituent.
SBI Securities flagged the development as “positive in medium to long term,” noting the collaboration’s focus on evaluating new-generation floating solar technology under Indian conditions.
Tata Power announced on October 7 that it had partnered with Norwegian renewable energy firm Ocean Sun to pilot a membrane-based floating solar system. The roughly 300 kWp pilot will be set up at Tata Power’s Mulshi reservoir in Maharashtra.
Unlike conventional pontoon-based floating solar, Ocean Sun’s system uses a hydro-elastic membrane, potentially lowering installation complexity and cost.
The agreement was signed on the sidelines of the 2nd India-EFTA Prosperity Summit. India is estimated to hold over 102 GWp of floating solar potential, according to the National Institute of Solar Energy. Tata Power’s total capacity, operational and under construction, stands at over 26 GW. The stock’s current P/E stands at 20.98.