Tata Power shares hits 52-week low; announced Ocean Sun deal buzz

Tata Power shares reached a new 52-week low of ₹338.40 on Thursday, as the stock was among the actives following its floating solar partnership announcement with Norwegian firm Ocean Sun the previous evening. The stock closed at ₹339.15, down 1.74 percent from the previous day's closing price of ₹345.15. Sell orders outnumbered buy orders by a margin of 54.12 percent to 45.88 percent, with a combined trading volume of over 9.83 lakh shares worth around ₹46.71 crore.

The stock opened at ₹347, reaching an intraday high of ₹347.75 before falling within the first hour of trade. This 52-week low is strikingly different from the 52-week high of ₹464.90 reached in April 2026. Over the longer term, the stock has declined by more than 11 percent year-to-date and 12 percent over the past year, falling behind the Nifty Next 50 index.

SBI Securities views the development positively in the medium to long term, highlighting the potential of new-generation floating solar technology under Indian conditions for the pilot project. Tata Power signed a partnership agreement with Ocean Sun on October 7 to pilot a membrane-based floating solar system at the Mulshi reservoir in Maharashtra.

This system uses a hydro-elastic membrane instead of conventional pontoon-based floating solar, potentially reducing installation complexity and cost. India is estimated to have over 102 GWp of floating solar potential. Tata Power's total capacity, both operational and under construction, stands at over 26 GW. The stock's current price-to-earnings (P/E) ratio is 20.98.