Broker's call: Tata Power (Buy)

BL Chennai Bureau | Updated on: Apr 07, 2022

Anand Rathi

Target: ₹316

CMP: ₹277.9

Tata Power Company has collaborated with Rustomjee Group, the leading real estate developer, to provide end-to-end EV charging solutions across all its residential and commercial projects in Mumbai Metropolitan Region. Under this collaboration, Tata Power will install dedicated charging infrastructure for residents of Rustomjee in Mumbai MMR. Customers can connect through the Tata Power EZ Charge mobile application for all services including remote vehicle charging monitoring & e-payments.

Tata Power’s Singapore-based JV - Resurgent Power Ventures has won the bid to acquire the stressed asset of South East UP Power Transmission Company (SEUPTCL) through its resolution process under the Insolvency and Bankruptcy Code (IBC).

Tata Power holds 26 per cent stake in the joint venture through its wholly owned Singapore-based arm Tata Power International. The transaction is part of a stressed asset resolution process initiated by a resolution professional through a competitive bidding process (held earlier).

Tata Power’s 100% subsidiary Tata Power Renewable Energy has commissioned a 300 MW project in Dholera, Gujarat. The project will generate 774 MUs annually.

Tata Power Solar Systems, a wholly owned subsidiary has commissioned a 160 MW AC solar project at Jet star, Rajasthan. From the recent development we expect the company's performance to improve from current levels. We maintain our rating on the stock to Buy with a revised target price of ₹316.

Published on April 07, 2022
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