Buy Tata Power Company, target price Rs 266: Motilal Oswal Financial Services
Tata Power Company with a target price of Rs 266. The current market price of Tata Power Company is Rs 256.75.
Motilal Oswal Financial Services recommended to keep stop loss at Rs 249.
Tata Power Company, incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 82136.20 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 30-06-2023, the company has reported a Consolidated Total Income of Rs 15484.71 Crore, up 16.21 % from last quarter Total Income of Rs 13325.30 Crore and up 5.78 % from last year same quarter Total Income of Rs 14638.78 Crore. Company has reported net profit after tax of Rs 790.30 Crore in latest quarter.
Investment Rationale
Higher highs-higher lows from the last five months and gave a range breakout well above hurdle zones.
Promoter/FII Holdings Promoters held 46.86 per cent stake in the company as of 30-Jun-2023, while FIIs owned 9.75 per cent, DIIs 14.54 per cent.
