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Power utility company CESC Ltd today rose as much as 1.6 per cent to over one-week high as Barclays has started coverage with an “overweight’’ rating, and fixed a target price of Rs 629.
It says current valuations have discounted the coal block deallocation in September 2014.
The stock is trading at 11 times of one-year forward earnings, according to Thomson Reuters.
The stock is down 23 per cent since the start of September.
It has 15 buy, 4 hold and 4 sell ratings, says Thomson Reuters data.
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