Buy Tata Power Company, target price Rs 237.5: Nuvama Wealth brokerage

economictimes.indiatimes.com:

Tata Power Company with a target price of Rs 237.5. The current market price of Tata Power Company is Rs 223.6.

Nuvama Wealth brokerage recommended to keep stop loss at Rs 214. Tata Power Company, incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 71224.12 Crore) operating in Power sector.

Tata Power Company key Products/Revenue Segments include Fly Ash, Power Supply, Other Operating Revenue, Project Management Fees and Income from Finance Leases for the year ending 31-Mar-2023.Financials For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 13325.30 Crore, down -7.48 % from last quarter Total Income of Rs 14401.95 Crore and up 9.05 % from last year same quarter Total Income of Rs 12219.36 Crore. Company has reported net profit after tax of Rs 759.70 Crore in latest quarter. Investment Rationale After managing to recapture the level of 215, the stock is now gearing up for its next swing move.Promoter/FII Holdings Promoters held 46.86 per cent stake in the company as of 31-Mar-2023, while FIIs owned 9.45 per cent, DIIs 14.09 per cent.