Tata Power’s Gujarat PPA Hits a 52-Week High — But the Rupee at ₹93 Tells a Different Story
Here’s the wrong way to read Thursday’s Tata Power session: the stock surged roughly 5% to a fresh 52-week high, the Gujarat Power Purchase Agreement is signed, the contract pipeline thesis has been validated, and the bull case is intact. That narrative is clean. Coherent. It also misses what’s actually happening underneath. The Nifty 50 closed at 23,212.7 on March 20, 2026 — up about 0.9% from its prior close of 23,002.2, but still sitting nearly 12% below its 52-week peak of 26,373.2. The BSE Sensex echoed that shape: 74,891.3, up 0.9% on the day, roughly 13% below its high of 86,159.0. The broader Indian market has shed around 8% … Read more