Buy Torrent Power, target Rs 290: Kunal Bothra

Independent analyst Kunal Bothra has acbuy call on Torrent Power Ltd. with a target price of Rs 290. The current market price of Torrent Power Ltd. is Rs 280.7 Time period given by analyst is Intra Day when Torrent Power Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 274. Torrent Power Ltd., incorporated in 2004, has a market cap of Rs 13370.76 crore.

Torrent Power Ltd. key Products/Revenue Segments include Income From Power Supply which contributed Rs 12266.97 Crore to Sales Value (94.39 % of Total Sales), Manufactured Goods which contributed Rs 297.22 Crore to Sales Value (2.28 % of Total Sales), Traded Goods which contributed Rs 237.22 Crore to Sales Value (1.82 % of Total Sales) and Other Operating Revenue which contributed Rs 194.00 Crore to Sales Value (1.49 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 3736.13 Crore, up 27.74 % from last quarter Sales of Rs 2924.80 Crore and up 5.90 % from last year same quarter Sales of Rs 3528.13 Crore Company has reported net profit after tax of Rs 276.59 Crore in latest quarter. The company’s top management includes Mr.Jinal Mehta, Mr.Keki Mistry, Mr.Pankaj Joshi, Mr.Pankaj Patel, Mr.Samir Barua, Mr.Samir Mehta, Mr.Sudhir Mehta, Mrs.Bhavna Doshi, Ms.Dharmishta Raval. Company has Price Waterhouse Chartered Accountants LLP as its auditoRs As on 30-06-2019, the company has a total of 480,616,784 shares outstanding.