Torrent Power shares jump 9%, hit 52-week high after company bags Rs 27,000 crore order

Torrent Power shares surged by more than 9% after it signed a MoU with the Government of Maharashtra for the development of pumped storage hydro projects worth INR27,000 crore ($3.7bn). The three projects will have a total capacity of 5.7 GW and will be built over five years, providing a minimum of six hours of energy storage on a daily basis. The stock has been performing well, with gains of INR105 per share or 19% over the past five trading sessions alone.