1:10 Split, 2.5% Dividend Yield: Electrical Stock To Ignite In 2025, ICICI Direct Says Buy For Rs 235 TP

Brokerage ICICI Direct has selected CESC as its top pick for 2025.

Technical:

- Post its multiyear breakout the
POWER index has entered into 6
months of consolidation phase and
has now approached its 52-week
EMA.

- Within power segment CESC is our
preferred pick. Since the resumption
of the upward rally in CY23, price
wise the stock has maintained the
rhythm of not retracing >50% of its
prevailing up move while time wise
intermediate corrections got arrested
within 2 months, highlighting robust
price structure

- As stock has approached maturity of
price and time wise correction, we
expect stock to gradually head
towards Rs 235 being measuring
implication of pattern range (212-
169).

CESC is a fully integrated electrical utility company (since 1899), headquartered in Kolkata, with business interest in generation & distribution of power. Its
revenue grew 10% CAGR over FY21 to FY24, whereas EBITDA & PAT declined 12% & 1% CAGR respectively over the same period