Financial Highlights – Torrent Power’s ₹68.89 Billion Nabha Deal Expands 1,400 MW Thermal Footprint

• Torrent Power to acquire Nabha Power from Larsen & Toubro for ₹68.89 billion (including debt).
• ₹36.61 billion equity payout to L&T Power Development.
• Nabha operates a 1,400 MW coal-fired plant in Punjab.
• Backed by a 25-year long-term PPA ensuring revenue visibility.
• Torrent’s capacity to rise to ~6.4 GW from ~5 GW.
• Strengthens northern India presence and thermal generation scale.

Torrent Power Limited (NSE: TORNTPOWER)

Torrent Power Limited edged lower by 0.03% to ₹1,471.00 on 17 February 2026, reflecting mild profit-booking after its recent earnings update and acquisition announcement. The marginal decline suggests consolidation following the earlier run-up rather than a fundamental shift. The company’s integrated presence across generation, transmission, and regulated distribution continues to provide earnings visibility. Stable electricity demand, gradual efficiency gains, and renewable capacity additions support the broader outlook, while elevated trading volumes indicate continued market participation.

Torrent Power Expands Northern Footprint with Nabha Acquisition, Strengthens Thermal Portfolio

India’s Torrent Power has agreed to acquire Nabha Power from Larsen & Toubro, marking a strategic expansion into northern India’s electricity market. The transaction strengthens Torrent’s thermal generation portfolio and provides access to an operational asset backed by a long-term supply arrangement. The move enhances geographic diversification and supports scale expansion, while reinforcing baseload capacity at a time when power demand remains structurally firm across industrial, agricultural, and urban segments.

Technical View: Torrent Power Slips 0.03% — Rebound Building After Support Retest?

From a technical standpoint, Torrent Power Limited eased marginally by 0.03% to ₹1,471.00 on 17 February 2026, reflecting a phase of consolidation after a recent move higher. The stock continues to trade above its 50-day Simple Moving Average near ₹1,343.35, which remains a supportive reference level. The formation of higher lows in recent months points to a stable broader structure. The 14-day RSI at 51.17 has moderated toward neutral territory. Support is positioned around ₹1,390.00–₹1,270.00, while resistance is seen near ₹1,590.00–₹1,680.00.

Bottom Line: Torrent Power 6% Jump in a Month — Is the Nabha Deal Reinforcing the Uptrend?

Following a steady monthly gain, Torrent Power Limited remains supported by its recent acquisition-led expansion and stable operational framework. Capacity growth, earnings visibility, and firm demand dynamics underpin the broader setup, while near-term consolidation could shape the next directional move.