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highlights
Today Tata Power shares are trading at Rs 353.15 on NSE.
In the last one year, Tata Power stock has given 71 percent returns to investors.
This stock has given 52 percent profit to investors in six months.
New Delhi. Tata Power shares are also seeing a rise today i.e. on Thursday 11th January. This share of Tata Group started trading with momentum today. During intraday, this Tata Power share rose by almost three per cent to Rs 357.40 and made its new 52-week high. Till the time of writing the news, Tata Power share was trading at Rs 353.15 (Tata Power Share Price) with a rise of 1.93 percent. Brokerage firm Antique has advised investors to buy this share. Besides, the brokerage has also increased the target price of Tata Power shares.
In the last six months, Tata Power shares have jumped by about 57 percent. Similarly, in the last one year, this share of Tata Group has given 71 percent return to investors. The 52-week low of this share is Rs 182.35. Brokerages are bullish on Tata Power stock considering the company’s expansion plans and being a major player in the power sector.
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Share can go up to Rs 450
Brokerage firm Antique has given buy rating to Tata Power shares. Besides, the target price of this share has also been increased from Rs 422 to Rs 450. If we look at the current price, Tata Power shares may rise further by 30 percent. Antique’s analysts believe that Tata Power will perform better in this sector. The brokerage said, “Tata Power has 4.3 gigawatt (GW) of operational solar, wind and hybrid assets. The company plans to increase its capacity by 10 gigawatts before financial year 2027. If the company has a capacity of 14 GW then it can contribute Rs 8,400 crore in EBITDA.
Company will invest Rs 70800 crore in Tamil Nadu
Tata Power’s subsidiary Tata Power Renewable Energy has recently signed two agreements with the Tamil Nadu government. Under this agreement, an investment of Rs 70800 crore will be made. Under the first MoU, TPREL will explore opportunities to develop 10,000 MW renewable energy projects in areas like solar, wind, hybrid in the next five to seven years. These projects will be set up on 50,000 acres of land. Investment of about Rs 70,000 crore is possible in these.
The second MoU has been signed to set up a 4 GW solar cell and solar module plant in two phases at Gangaikondakon in Tirunelveli district. The company will invest up to Rs 3,800 crore in it. On July 4, 2022, the company had signed an MoU, in which the investment was estimated at Rs 3,000 crore. Now there is a plan to increase it to Rs 3,800 crore.
(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest money in any of these, then first consult a certified investment advisor. News18 is not responsible for any profit or loss of yours. will be.)
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first published : 11 January 2024, 12:15 IST
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