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Tata Power Shares: Shares of Tata Power, the Tata Group’s power company, witnessed a stormy surge on Friday. Shares of Tata Power Company Limited touched a 52-week high on the last trading day of the week. Shares of Tata Power rose 3.93% to Rs. 278.50. Tata Group shares have gained 28% in the last six months. Tata Power stock is up 22.45% in one year and 30.04% this year. The market capital of the company is currently more than 88 thousand crore rupees.
What the experts say: Stockbox Derivatives and Technical Analyst Avdhut Bagkar told Business Today – Tata Power shares are trading at Rs. A close above 270 will give a boost and the price will be Rs. Can reach the level of 300. IDBI Capital’s AK Prabhakar named Tata Power as one of his top fundamental stocks.
He said- the company expects its revenue and EBITDA to double by FY27. I think it will be more than double. If a company can double in 4 years, it has a CAGR (compound annual growth rate) of 20 percent. According to Abhijit of Tips2Trades, the price may go up to Rs 306 in the near term.
How were the quarterly results?
Tata Power has posted a bumper profit in the September quarter. The company’s net profit increased by nine percent to Rs. 1,017.41 crores. The profit of the company has increased mainly due to increase in revenue. A year ago, in the same quarter of 2022-23, the company posted a profit of Rs 935.18 crore.