TORRENT POWER RECEIVED APPROVAL FROM CCI FOR ACQUISITION OF NABHA POWER

has received the regulatory approval from Competition Commission of India (CCI) for acquiring 100% stake in Nabha Power Limited from L&T Power Development Limited. The company will acquire both the equity stake and convertible instruments, giving it full control over the target company's operations and assets. Having a market cap of Rs 73,792 crores, the company's stock price is currently trading at a fair P/E of 23.3 as compared to the industry average of 26.5. Moreover, the company has been maintaining a healthy dividend payout of 44% thereby making it a good investment opportunity for regular income.