Mar 16, 2017 03:57 PM IST | Source: CNBC-TV18

Tata Power may touch Rs 85: Shahina Mukadam

Shahina Mukadam, Independent Market Expert feels that Tata Power Company may touch Rs 85.

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "I personally hold Tata Power and I believe it looks good even from shorter term as well as from longer term perspective. There is a high debt of company, somewhere close to Rs 42,000 crore and the company is talking of monetising it, they are talking of raising some funds through placement of some of their renewable energy assets. This should make the balance sheet look better and also an addition to that there is some resolution on Mundra."

"They have been allotted, they have been allowed some price increases which will float through and over the next year the company should look much better even they have bid for defence order. So both from shorter term technically also it is looking good. I am giving a short-term target of Rs 85, keep a stoploss of Rs 80 and on longer term there is definitely higher levels to look at," he said.
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