Tata Power share price: Sanjay Banga named next CEO, Q2 profit up 33%
Tata Power picked renewables head Sanjay Banga to succeed Praveer Sinha in May 2027 and posted a record Rs1,652 crore quarterly profit.
Tata Power has named Sanjay Banga as its next chief executive and reported its highest-ever quarterly profit, on the same day, Wednesday, 11 November. That is why “Tata Power share price” was one of India’s top Google searches overnight.
The new CEO
Banga, who now runs Tata Power Renewable Energy as its CEO and managing director, has been appointed CEO-designate and an additional director, Reuters and Indian Opinion reported. His five-year term as CEO and managing director starts on 1 May 2027, subject to shareholder approval. He takes over from Praveer Sinha, who has led the company since 2018 and turns 65 on that date.
Banga is a Tata Power veteran: he previously ran Tata Power Delhi Distribution and then the group’s transmission and distribution business, before moving to renewables in June 2025. Picking an insider who already runs the solar and wind arm is a signal that clean energy is where Tata Power sees its growth.
The results
For July to September, the second quarter of India’s financial year 2026-27, Tata Power’s profit after tax rose 33% from a year earlier to ₹1,652 crore, and revenue rose 26% to ₹19,886 crore, Business Standard reported. The company called it its best quarter ever. Its board also approved a project worth ₹11,871 crore. Reuters linked the jump partly to a turnaround at the Mundra power plant and growth in the solar business.
Some outlets quote a lower figure, ₹1,366 crore, for consolidated net profit; the gap comes from different profit measures, so check which one a report is using.
What the share did, and what analysts think
The shares closed flat at ₹360 on the National Stock Exchange on results day. Brokers are split, Zee Business reported: Citi keeps a buy rating with a ₹525 target, while JP Morgan (neutral, ₹423) and CLSA (hold, ₹415) are more cautious. This is information, not investment advice.
The next things to watch are how the share opens after the CEO news is fully priced in, and the shareholder vote on Banga’s appointment.
