Tata Power shares jump 5% after Gujarat govt approves supply agreement for Mundra plant

Tata Power shares surged after Gujarat approved a new power supply deal. This allows the company to restart its 4-gigawatt Mundra plant. The agreement aims to boost power output amid potential summer gas shortages. It requires federal approval and takes effect from April 2025. Tariffs will align with other states. This development offers relief to India's energy sector.