Today the share price of Indian energy company Tata Power Company Limited went up almost 3%. Global research house Morgan Stanley maintained an equal-weight rating on Tata Power and raised its share price target to Rs 228 per share, CNBC-TV18 reported.
Morgan Stanley said that this valuation has been given considering the potential of the company’s green energy business and the resolution of their Mundra plant.
Tata Power’s consolidated net profit for quarter 3 of FY 22 grew 71.6% on a year-on-year basis. Tata Power’s revenue from operations also increased by Rs 10913.1 crore (43.6%) year-on-year in Q3 FY22.
However, the company’s power purchase cost and transmission charges also almost doubled sharply on a year-on-year basis.
The transmission charges were Rs 250 crore and the power purchase was Rs 3631.7 crore in the Q3 FY 22.
The share price of the company has increased almost by 170% in the last one year.
| 52 Week High | 267.85 |
| 52 Week Low | 86.35 |
| Sector PE | 27.00 |
| Face Value | 1 |
| Dividend Yield | 0.67 |
| Mkt Cap (Rs. Cr.) | 73,924 |
| Book Value Per Share | 74.33 |
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| Net Profit 2021 (Rs. Cr.) | 611 |
| Debt to equity (2021) | 1.85 |
| Revenue 2021 (Rs. Cr.) | 32,468 |
| EPS | 3.17 |
| ROE | 5.41 |
| Dividend/Share (INR) (Mar 2021) | 1.55 |
| Promoters holding | 46.86% |
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This article is only for education purpose and the author has his own views and research, so if you invest in these stocks then do it at your own risk and do the research yourself before investing.
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