Tata Power, India's largest integrated power company, witnessed a rise in share price on Monday after it announced that it has signed a Memorandum of Understanding (MoU) with Siberian Coal Energy Company (SUEK) to develop opportunities in the energy sector.

As part of the agreement, both Tata Power and SUEK will cooperate on identifying and targeting opportunities in the energy sector in Russia and other geographies of common interest in order to develop mutually beneficial transactions.

Shares of the comapny are trading at Rs 87.70, up Rs 1.75, or 2.04% at the Bombay Stock Exchange (BSE) on Monday at 1:21 p.m.

The scrip has touched an intra-day high of Rs 87.80 and low of Rs 85.75. The total volume of shares traded at the BSE is 330,087.