Buy Torrent Power, target price Rs 970: Prabhudas Lilladher

Torrent Power Ltd. key Products/Revenue Segments include Income From Power Supply, Traded Goods and Other Operating Revenue for the year ending 31-Mar-2023.

By ETMarkets.com | Updated: Dec 29, 2023, 09.24 AM IST

Promoters held 53.57 per cent stake in the company as of 30-Sep-2023, while FIIs owned 6.17 per cent, DIIs 21.54 per cent.

Prabhudas Lilladher has buy call on Torrent Power with a target price of Rs 970. The current market price of Torrent Power Ltd. is Rs 904.65.

Torrent Power Ltd., incorporated in the year 2004, is a Mid Cap company (having a market cap of Rs 44178.29 Crore) operating in Power sector.

Torrent Power Ltd. key Products/Revenue Segments include Income From Power Supply, Traded Goods and Other Operating Revenue for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 7069.11 Crore, down -4.64 % from last quarter Total Income of Rs 7413.32 Crore and up 4.00 % from last year same quarter Total Income of Rs 6797.21 Crore. Company reported net profit after tax of Rs 542.55 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 53.57 per cent stake in the company as of 30-Sep-2023, while FIIs owned 6.17 per cent, DIIs 21.54 per cent.

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