Buy CESC; target of Rs 570:Firstcall

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Firstcall's reserach report on CESCCESC limited is the flagship company of the R. P. Sanjiv Goenka Group. Registered in 1897, the Company is a fully integrated power utility engaged in the generation and distribution of electricity across 567 square kilometers of licensed area in Kolkata and Howrah, West Bengal. It serves 2.9 million consumers which include domestic, industrial and commercial users. CESC limited own & operate three thermal power plants generating 1125 MW of power. These are Budge Generating Station (750 MW), Southern Generating Station (135 MW), & Titagarh Generating Station (240 MW). From three generating stations, it accomplishes 88% of their customer’s electricity requirement and remaining 12% is achieved by purchase of electricity from third parties. More than 50% of coal is sourced from captive mines for generation of electricity in generating stations.We recommend ‘BUY’ in this particular scrip with a target price of Rs. 570.00 for Medium to Long term investment.For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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