HDFC Securities has reduce call on Tata Power NSE -0.37 % Company with a target price of Rs 215. The current market price of Tata Power Company is Rs 242.8. Time period given by analyst is one year when Tata Power Company Ltd. price can reach defined target. .
Tata Power Company Ltd., incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 76272.75 Crore) operating in Power sector.
Tata Power Company Ltd. key Products/Revenue Segments include Power Supply, Project Management Fees, Other Operating Revenue, Income from Finance Leases and Fly Ash for the year ending 31-Mar-2021.
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For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 10187.33 Crore, up .41 % from last quarter Total Income of Rs 10145.89 Crore and up 20.68 % from last year same quarter Total Income of Rs 8441.60 Crore. Company reported net profit after tax of Rs -117.18 Crore in latest quarter.
Investment Rationale
The brokerage increases earnings estimates by 1.3%/1.5%/2.5% for FY22/FY23/FY24, factoring in the Q3 beat. It maintains Buy with a revised TP of Rs2,160 (earlier Rs 2,100) at 30x Dec’23E EPS, considering strong earnings momentum and a robust demand environment.
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Promoter/FII Holdings
Promoters held 46.86 per cent stake in the company as of 30-Sep-2021, while FIIs owned 11.06 per cent, DIIs 19.9 per cent.
