Buy Multibagger Tata Group Stock For Target Price Of Rs 258, Target Time 14 Days: ICICI Direct

ICICI Direct has given buy call to Tata Group stock Tata Power Company Ltd for a target price of Rs 258 apiece. Tata Power Company's consolidated PAT before exceptional items up by 90% at Rs 884 crore vs Rs 466 crore in Q1FY22 (due to improved performance across all businesses mainly profit from Coal Companies).

Tata Power Company Ltd Stock Outlook

The current market price of the stock is Rs 245 apiece with a gain of 0.39% in morning trading so far (10:34 am). According to ICICI Direct, if you buy the stock at its current market price, it has the potential to surge to Rs 258 apiece with a potential surge of 5%. The brokerage as given a target time of 14 days to achieve this target.

ICICI Direct expects the stock will potentially surge towards Rs 258 level in the coming days and has given a buy call.

Tata Power Company Ltd 52-Week High/Low

The stock's 52-week high is Rs 298 apiece and 52-week low is Rs 130 apiece, respectively.

Tata Power Company Ltd Market Capitalization

The company has a market capitalization of Rs 78,573.40 crore at the time of writing the story.

Tata Power Company Ltd Strengths

It is a company with high TTM EPS growth. It has received high piotroski score with high return on equity (roe) and eps growth. It has achieved good quarterly growth in the recent results.

Tata Power Company Ltd Weakness

The company's debt is increasing. MFs decreased their shareholding last quarter. Bearish Engulfing (Bearish Reversal) is yet another weakness.

Tata Power Company Return In Last 5 Years

The stock has given a return of 219% in last 5 years, 307% in last 3 years, and 85% in last 1 year.

Tata Power Company Ltd Q1FY23 Quarterly Result:

Tata Power delivers huge growth in Q1FY23 with 90% YoY increase in consolidated PAT at Rs 884 crore and 48% YoY increase in revenue at Rs 14,776 crore on back of all-round excellent performance across businesses.

It has commissioned 600 MW large-scale EPC projects; has a strong Solar EPC order book of Rs 14,626 crore winning 1.7 GW projects in Q1FY23. It has Commissioned India's largest floating solar power project of 101.6 MWp in Kerala. It Plans Rs 14,000 crore consolidated capex in FY23 (with Rs 10,000 crore in Renewables).

It has Signed an MoU with Tamil Nadu State Government for Rs 3,000 crore investment for setting up a greenfield 4 GW Solar Cell and Module Plant.

About Tata Power Company

Tata Power Company Ltd. is an Indian utilities company that is involved in generating, transmitting, and distributing electricity in the country. It is part of the prestigious Tata Group of companies. The company is incorporated in Mumbai, Maharashtra. Tata Power Company Ltd. produces both traditional and renewable energy. The company, along with its subsidiaries, has a power generation capacity of 13,061 MW. Of this, 32% comes from clean energy sources such as wind and solar energy

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.