JM Financials upgrades Tata Power to ‘buy’ after shares hit 52-week high, sees 24% upside over revised TP

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07.12.2023 - 15:17

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Tata Power Share Price Today: Shares of Tata Power were locked at over 10 per cent upper circuit at ₹332 apiece on the BSE, hitting its 52-week high-mark on Thursday, December 7. Domestic brokerage firm JM Financials has upgraded its rating from ‘hold’ to ‘buy’ on the stock and raised the target price by 59 per cent over the recent uptrend in share price.

At a current market price (CMP) of ₹325.75, JM Financials has given a revised target price of ₹350 for Tata Power, which is 59 per cent higher than previous target of ₹220 and sees a potential upside of 24.3 per cent on the stock. On Thursday, shares of Tata Power opened at ₹295.90 and surged 12.2 per cent to hit a 52-week high of ₹332, against a previous close of ₹294.10 apiece on the BSE.

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