Tata Power, one of the leading private sector power generation companies, said Tuesday the Supreme Court (SC) has on Monday stayed the payment of the compensatory tariff by procurers as was allowed as per the Appellate Tribunal for Electricity (APTEL)'s interim order.

The SC has further asked APTEL to expedite the case hearings and take a final decision on the subject matter quickly.

Tata Power's wholly owned subsidiary, Coastal Gujarat Power (CGPL), which has an operating 4000 MW imported Coal based Ultra Mega Power Project (UMPP) at Mundra, Gujarat, Haryana as a procurer had filed for stay of the interim order of the APTEL which upheld that compensatory tariff be payable after March 2014 as per order of Central Electricity Regulatory Commission (CERC).

Shares of the company declined Rs 2.85, or 3.15%, to trade at Rs 87.50. The total volume of shares traded was 425,211 at the BSE (11.13 a.m., Tuesday).