Tata Power Share Price Target 2024, Renewable energy stock: UP 115% in 1 year; BUY?
Tata Power Share Price Target 2024, Tata Power Share Price: Tata Group’s integrated power company, Tata Power, last week posted its financial results for the quarter and year ended on March 31, 2024. The company, in the financial results, has also announced a 200 per cent dividend for the FY23-24. The Tata Group stock has rallied 115 per cent in the past one year, more than doubling investors money in the said period. Brokerage firm ICICI Securities has shared its views on the company’s stock after the quarterly results.
Tata Power’s shares in Saturday’s special trading session (May 18) closed at Rs 441.45 apiece on NSE
Tata Power Share Price Target 2024
According to ICICI Securities, “Tata Power is building one of the best RE (renewable) platforms – a mix of asset-light and asset-heavy businesses.”
The brokerage firm says, “Tata Power has built renewable assets of 10GW, solar manufacturing of 4GW, solar EPC arm, rooftop solar and is currently developing two pumped storage systems. It also has the first mover advantage in electric vehicle charging
market. Among our coverage universe, it is the most comprehensive RE platform. It is likely to grow RE capacity to 2x
in next 2 years, it is very close to commissioning 4GW of cell and module capacity and it has 13 per cent market share in
rooftop solar market. In addition, It is one of the largest private Discoms in the country and is looking to grow the
transmission business (won 2 bids in transmission).”
ICICI Securities has set the target price for Tata Power at Rs490 per share. This represents a potential upside of up to 11 per cent from Saturday’s closing price.
:Â Tata Motors Q4FY24 Earnings Today; Revenue Expected To Grow By 14.2% YoY | CNBC TV18Â (CNBCTV18)