Tata Power`s arm sells stake in Nelito

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Tata Power has said in a filing to the Bombay Stock Exchange that NELCO and Af-Taab, subsidiaries of the company, along with other shareholders of Nelito have entered into an agreement for sale of shares of Nelito to DTS Corporation, Japan. 

NELCO Limited (NELCO), a subsidiary of the Company and Af-Taab Investment Company Limited (Af-Taab), a wholly owned subsidiary of the Company, both together hold 49.89 per cent in Nelito Systems Limited (Nelito). 

Tata Power is India's largest integrated power company with significant international presence in wind, solar, hydro and geothermal energy space. Meanwhile, shares of the company were trading at Rs 85.80 apiece, down 0.81 per cent from the previous close at 09:30 hours on BSE.

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