Torrent Power has entered into a contract with Siemens Gamesa Renewable Power for setting up of wind power projects upto an aggregate capacity of 120 MW.

The arrangement includes acquiring of the 100% share capital of the two SPVs established for the purpose of development and implementation of the said projects at Rs 1 lakh each from Siemens Gamesa Renewable Power.

The stock had underperformed the market over the past one month till Feb. 14, 2018, falling 8.35% compared with the Sensex's 1.26% decline. It underperformed the market in past one quarter, gaining 2.86% as against 3.69% rise in the Sensex.

Shares of the company gained Rs 3.5, or 1.29%, to trade at Rs 274.55. The total volume of shares traded was 29,043 at the BSE (9.59 a.m., Thursday).