This article is more than 7 month old.

Standout Brokerage Report: Edelweiss raises target on Tata Power to Rs 95 from Rs 75

Mini

Edelweiss has maintained its ‘buy’ rating on Tata Power but has raised the target price to Rs 95 from Rs 75. The brokerage house has also raised the earnings per share (EPS) for FY21 and for FY23 by 20 percent and 30 percent respectively.

Edelweiss believes that Tata Power is at a cusp of a mega transformation for two reasons. One, the company is resolving its legacy problems by reducing debt and through restructuring. Two, and two, they are realigning their business model to new Environmental Societal and Governance trends which are niche and scalable.
On back of these factors, Edelweiss has maintained its ‘buy’ rating on Tata Power but has raised the target price to Rs 95 from Rs 75. The brokerage house has also raised the earnings per share (EPS) for FY21 and for FY23 by 20 percent and 30 percent respectively.
CNBC-TV18’s Nimesh Shah has more details.
For more, watch video...

Market Movers

CompanyPriceChng%Chng
Sun Pharma773.95 70.95 10.09
Tech Mahindra1,209.55 81.75 7.25
Cipla920.05 36.95 4.18
Shree Cements28,265.75 626.80 2.27
Adani Ports674.50 14.85 2.25
CompanyPriceChng%Chng
Sun Pharma774.00 70.75 10.06
Tech Mahindra1,209.45 81.70 7.24
Power Grid Corp171.05 3.65 2.18
Bajaj Auto3,845.00 82.20 2.18
HCL Tech1,025.45 17.85 1.77
CompanyPriceChng%Chng
Hindalco444.80 -13.30 -2.90
Bajaj Finance6,228.10 -172.00 -2.69
SBI Life Insura1,098.60 -30.25 -2.68
Bajaj Finserv14,222.20 -376.85 -2.58
SBI431.80 -9.75 -2.21
CompanyPriceChng%Chng
Bajaj Finance6,228.90 -165.40 -2.59
Bajaj Finserv14,221.30 -369.15 -2.53
SBI431.70 -10.05 -2.28
Tata Steel1,433.75 -25.25 -1.73
Titan Company1,714.50 -25.60 -1.47

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.41000.12500.17
Euro-Rupee88.1920-0.0560-0.06
Pound-Rupee103.4990-0.1540-0.15
Rupee-100 Yen0.6779-0.0005-0.08