New Delhi, Dec 7 (SocialNews.XYZ) Tata Power is up 12 per cent in trade on Thursday after an upgrade by a brokerage.
Tata Power is trading at Rs 329 on BSE up by 12 per cent.
JM Financial Institutional Securities said in a research that Tata Power's recalibrated strategy involves tapping high-margin group captive RE (renewables) opportunities, exiting low-value businesses, venturing into brownfield pumped hydro storage, and expanding transmission business beyond distribution.
This, coupled with the visible resolution of the Mundra issue, positions the company for accelerated growth. We forecast Revenue/EBITDA/PAT CAGR of 15%/23%/32% respectively over FY23-26E, supported by increasing asset base and improved margin profile.
“We upgrade the stock’s rating to Buy, setting an SOTP-based TP of INR 350, indicating a potential upside of 24% from current levels”, JM Financial said in a note.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz