• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney master your money
Moneycontrol

Home » News » Recommendations

Feb 15, 2017, 05.16 PM | Source: Moneycontrol.com

Buy Tata Power; target of Rs 85: Edelweiss

Edelweiss is bullish on Tata Power has recommended buy rating on the stock with a target price of Rs 85 in its research report dated February 13, 2017.

Like this story, share it with millions of investors on M3

Buy Tata Power; target of Rs 85: Edelweiss

Edelweiss is bullish on Tata Power has recommended buy rating on the stock with a target price of Rs 85 in its research report dated February 13, 2017.

Post Your Comments

Share Cancel

| 1 Comments

(more)

, Edelweiss |


Edelweiss' research report on Tata Power

Standalone recurring EBITDA stood at INR 5.7bn. Other expenditure increased due to one‐off impairment of INR 650mn at Naraj Marthapur project. Also previous year’s EBITDA was bloated due to reversal of disallowance of INR 850mn. Adjusting for this, Q3FY17 adjusted EBITDA dipped by 7% YoY. Among other businesses, the coal business in Indonesia sprung positive surprise reporting net income of INR 2.4bn (41% of consolidated profits) as the company’s share of profit.

Outlook

We maintain our estimates and reiterate ‘BUY’ with TP of INR 85. However, FY17E gross debt: equity at 2.4x remains a challenge. For us, the key trigger remains the Supreme Court’s ratification of the CERC compensatory tariff recommendations. Even otherwise, looking at coal index, tariff escalations for Mundra project next year could recoup 50% of the losses.

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.

To read the full report click here

Buy, Hold, Sell ? Hear it first on M3
Buy Tata Power; target of Rs 85: Edelweiss

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login