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Tata Power share price: Shares of Tata Power gained as much as 5% to their day’s high of Rs 418.50 on the BSE on Friday after Gujarat approved a revised power supply pact with the company, clearing the way for it to resume long-term supply from its 4-gigawatt Mundra plant, news agency Reuters reported.The Economic Times couldn’t independently verify the report. Tata Power hasn’t informed the exchanges about this development either.The imported coal-fired plant has not operated for the past six months after the government last year withdrew the emergency clause that compensates companies for generating power using expensive imported coal, Reuters added.The deal comes as a relief to India, which is aiming to maximise power output from its coal plants amid an escalating Middle East conflict that is expected to trigger a gas shortage during the summer months.The agreement is subject to approval from the federal power regulator and will take effect retrospectively from April 2025.While the document did not disclose the exact pricing of the power supply, it noted that Gujarat has mandated that tariffs must not exceed those paid by other states, the report said.Tata Power share price performanceShares of Tata Power Company Limited have gained 8% over the past one month. However, the stock has remained largely range-bound over a longer horizon, rising just 3% in the last six months. On a year-to-date basis, the Tata Power share is up 7%, while it has delivered a 10% return over the past year.Tata Power Q3 snapshotThe company’s profit after tax (PAT) rose 1% to Rs 1,194 crore, while nine-month PAT climbed to Rs 3,702 crore, up 7% year-on-year.Revenue for Q3 FY26 stood at Rs 14,485 crore, down 4% year-on-year, compared with Rs 15,118 crore reported in the same period last year, Tata Power said in a press release. Meanwhile, nine-month revenue came in at Rs 47,719 crore, up 1% YoY.EBITDA for the quarter grew to Rs 3,913 crore, up 12% from Rs 3,481 crore posted in the corresponding quarter of the previous financial year.During the quarter, Tata Power executed around 1.3 GW of renewable projects, taking cumulative renewable EPC execution past the 10 GW milestone. The company’s total installed capacity now stands at 16.3 GW, underlining its expanding presence in clean energy infrastructure.

Shares of State Bank of India (SBI) jumped more than 3% on Friday after the public lender’s subsidiary and India’s largest asset management company, SBI Funds Management, filed its draft IPO papers with market regulator Sebi to raise funds through the primary market.In an exchange filing, SBI announced its subsidiary has filed the draft red herring prospectus (DRHP) with Sebi for an IPO of up to 20.37 crore equity shares, entirely comprising an offer for sale. This means that the proceeds from the IPO will go directly to the shareholders, and the company will not receive any amount.Also read: Coal India arm CMPDI IPO opens for subscription. Check brokerages review, GMP and other detailsAs part of the OFS, promoter SBI will sell 12.83 crore shares (representing a 6% stake in the subsidiary), while Amundi India Holding will sell 7.53 crore shares. The total issue size in rupee terms, along with the price band, has not yet been disclosed.SBI Funds Management operates as the investment manager to its flagship mutual fund business and also offers portfolio management services (PMS), alternative investment funds (AIFs) and offshore advisory services. It served over 1.6 crore unique investors, as of December 2025, and manages mutual fund average assets under management (AUM) of Rs 6.06 lakh crore. The company holds a 15.4% market share by QAAUM, making it the largest AMC in India. SBI currently holds 61.86% stake in SBI Funds Management, while AMUNDI Asset Management holds 36.33% stake through a wholly owned subsidiary.Kotak Mahindra Capital, Axis Capital, ICICI Securities and SBI Capital Markets are among the nine bankers handling the IPO.Also read: HPCL, BPCL, IOCL shares rebound up to 6%. Here are two reasons behind renewed buyingSBI shares have gained 2% in the past five days, but fallen more than 11% in the past month. The share price rose 26% in the past six months. India’s largest public sector lender posted strong results for the October-December quarter of the ongoing financial year 2026, with standalone net profit rising 24% YoY to Rs 21,028 crore and net interest income (NII) increasing 9% YoY to Rs 45,190 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)