Tata Power shares inline Q4 results; what stock price targets hint at
Tata Power Company Ltd, India’s largest private integrated utility, reported in-line Q4 results, as revenue grew 7 per cent YoY and consolidated PAT rose 25 per cent YoY, led by better margin in the solar EPC segment and improved profitability in Orissa and Mundra UMPP. Stock analysts are neutral-to-positive on the stock, with their share price targets suggesting up to 20 per cent potential upside for the Tata group stock.
The timely commissioning of renewable capacity (Tata Power plans to add 2-2.5 GW per annum), solar EPC order inflow, further opportunities under pumped hydro and nuclear power plants would be key catalysts for the stock going ahead, Antique Stock Broking said.
It suggested a ‘Buy’ rating and a target price of Rs…
