Power sector buzzing: Axis Capital raises Tata Power target price sharply

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Power stocks like Tata Power are buzzing in trade. Axis Capital has a 'buy' on Tata Power with a target price of Rs 160, increased from Rs 115. The brokerage firm expects profit to grow by 3 times and the return on equity to double over the span of FY21 through FY25.

Power stocks like Tata Power are buzzing in trade. Axis Capital has a 'buy' on Tata Power with a target price of Rs 160, increased from Rs 115. The brokerage firm expects profit to grow by 3 times and the return on equity to double over the span of FY21 through FY25.
Solar pumps and rooftop solar EPC are the driving factors here. Even the renewable independent power plant portfolio, as well as regulated transmission and distribution capital expansion, are some of the factors that Axis Capital is factoring in.
As far as the entire power sector is concerned, the BSE Power index is up 17 percent. The outperformers here are Adani Power, Tata Power, Torrent Power, NHPC, and Adani Green.
There is an expectation of demand returning to the sector through unlocking after the second wave of COVID-19. That is the reason a little bit of push is witnessed in the power sector as a whole.
Watch the accompanying video of CNBC-TV18’s Agam Vakil to know what has got the stocks excited.

Market Movers

CompanyPriceChange%Loss
ONGC120.25 -4.85
Coal India146.40 -5.75
JSW Steel670.60 -25.75
NTPC113.55 -3.85
UPL808.00 -27.05
CompanyPriceChange%Loss
ONGC120.35 -4.65
NTPC113.55 -3.70
M&M784.85 -20.60
Power Grid Corp233.00 -6.70
Nestle17,678.30 -375.20
CompanyPriceChange%Loss
ONGC120.25 -4.85 -3.88
Coal India146.40 -5.75 -3.78
JSW Steel670.60 -25.75 -3.70
NTPC113.55 -3.85 -3.28
UPL808.00 -27.05 -3.24
CompanyPriceChange%Loss
ONGC120.35 -4.65 -3.72
NTPC113.55 -3.70 -3.16
M&M784.85 -20.60 -2.56
Power Grid Corp233.00 -6.70 -2.80
Nestle17,678.30 -375.20 -2.08

Currency

CompanyPriceChng%Chng
Dollar-Rupee73.8600-0.2175-0.29
Euro-Rupee87.8770-0.4200-0.48
Pound-Rupee102.2970-0.9290-0.90
Rupee-100 Yen0.6699-0.0019-0.29