ICICI Securities Gives Buy Call To Tata Group's Power Stock, Target Price Rs 262

ICICI Securities has recommended investors to buy shares of Tata Group's Power sector stock, Tata Power Company Ltd with a target price of Rs 262 apiece. Last trading price of the stock is Rs 204.80 apiece. If you buy Tata Power Company Ltd shares now, you can get potential return of 28%.

The stock gave maximum return of 259% in last 3-years. Check details pertaining to the stock below:

1. Tata Power Company Share Performance

The last trading price of the stock is Rs 204.80 apiece with an intraday fall of 0.36%. The stock's 52-week high is Rs 298.00 apiece and 52-week low is Rs 190.00 apiece, respectively.

The company has a market capitalisation of Rs 65,440.55 crore. The stock declined 15% in last 1-year, gave return of 259% in last 3-years, and 140% in last 5-years.

2. Tata Power Company Valuation

According to ICICI Direct, "We revise our estimates for FY23E and FY24E factoring-in the higher coal prices and earnings on sale of power from Mundra plant under section-11 of the Electricity Act as well as the impact of the recent CERC order on Mundra's FY23E earnings. We maintain BUY and our SoTP-based target price of Rs 262. The stock is currently trading at FY24E P/E of 20.3x and P/B of 2.3x."

3. About Tata Power Company

Tata Power is one of India's largest integrated power companies, present across the entire power value chain of conventional & renewable energy, power services, and next-generation customer solutions including solar rooftop, EV charging stations, and home automation, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of ICICI Securities. 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.