This power share created an uproar! Its price will cross ₹500

After a strong quarterly performance, Tata Power is witnessing significant buying interest in its shares. On November 1, during Diwali Muhurat trading, the stock rose over 1% to Rs 448, reflecting positive investor sentiment. Market experts are increasingly bullish on Tata Power, viewing it as a promising long-term investment.

Expert Opinions on Tata Power

Market analysts have differing views on Tata Power’s recent performance. JM Financial has issued a ‘Buy’ rating with a target price of Rs 501, citing expectations of 10% annual revenue growth and 15% EBITDA growth from 2024 to 2027. Conversely, Kotak Institutional Equities has a ‘Sell’ rating, raising its target price to Rs 315.

Major Investment Announcement

Tata Power’s board has approved a substantial investment of Rs 5,666 crore for a 1,000 MW pumped storage hydropower project in Bhivpuri, expected to be completed in 44 months. The company aims to finance 75% of the project through debt and 25% through equity, enhancing its production capacity and sustainability efforts.

Quarterly Results Overview

In its latest quarterly results, Tata Power reported a profit of Rs 1,093.08 crore for the September quarter, marking an 8% increase year-on-year. Total income rose to Rs 16,210.80 crore, reaffirming the company’s operational growth and strengthening investor confidence.