Tata Power shares gained on Tuesday after the company said that the Maharashtra Electricity Regulatory Commission (MERC) has renewed transmission and distribution license for the next 25 years with effect from Aug. 16, 2014.

The license area covers from Colaba to Mahim, falling under Mumbai City Revenue district, Bandra to Dahisar and Chunabatti to Vikhroli of Mumbai suburban Revenue District, area of Mira Bhayandar Municipal Corporation.

Shares of the company are trading at Rs 92.55, up Rs 0.55, or 0.60% at the Bombay Stock Exchange (BSE) on Tuesday at 12:04 p.m.

The scrip has touched an intra-day high of Rs 93.45 and low of Rs 92.25. The total volume of shares traded at the BSE is 217,693.