Tata Power shares hit new record high following Morgan Stanley upgrade
Mumbai/IBNS: Shares of Tata Power Company surged to a new all-time high of Rs 494.85 on the NSE after Morgan Stanley upgraded its rating on the stock from 'underweight' to 'overweight.'
The global brokerage also raised its price target for Tata Power shares to Rs 577, indicating a potential 1 percent increase from the previous closing price.
Morgan Stanley analysts cited Tata Power's effective mix of stable, regulated businesses and market-driven ventures, including its green energy platform, transmission projects, and pumped hydro initiatives.
This diversified strategy is expected to fuel earnings growth while maintaining a strong return on capital employed (excluding the Mundra project) and keeping debt levels in check.
The brokerage also noted the quality of Tata Power's projected growth, especially from its green energy platform, which it sees as a significant improvement over its historical performance.
As of 10:48 am on Friday (Sept. 27), Tata Power shares were trading over 3 percent higher at Rs 490.60 on the NSE.
Year-to-date, the stock has risen by 48 percent, outperforming the benchmark Nifty's 18 percent gain.
Over the past year, Tata Power shares have jumped 88 percent, compared to Nifty’s 30 percent rise during the same period.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
PM Modi urges Indians to go 'Vocal for Local' in festival shopping
Pakistan’s mineral show-and-tell: Sharif and Munir try to charm Trump
Rain predicted during Durga Puja days, Yellow warnings for all Tripura districts
Festive mode on high from ‘Maha Shasti’ day, Agartala city witness massive crowd
