Buy Tata Power Company, target price Rs 340: Anand Rathi

Anand Rathi has buy call on Tata Power Company with a target price of Rs 340. The current market price of Tata Power Company is Rs 248.6. Time period given by analyst is 6 months 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 79723.72 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.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 11018.73 Crore, up 8.16 % from last quarter Total Income of Rs 10187.33 Crore and up 43.05 % from last year same quarter Total Income of Rs 7702.84 Crore. Company reported net profit after tax of Rs -106.17 Crore in latest quarter.

Investment Rationale
The brokerage advises traders to go long in the stock in the range of 252 – 242 with a stop loss of 200 for the upside target of 340 in 3 – 6 months.

Promoter/FII Holdings
Promoters held 46.86 per cent stake in the company as of 31-Dec-2021, while FIIs owned 10.84 per cent, DIIs 15.57 per cent.