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Buy Torrent Power, target Rs 186: Hem Securities
Hem Securities has recommended a buy rating on Torrent Power, with price target of Rs 186. The stock at the current market price of Rs 140.10 will trade 16.23 times to its earnings of Rs 8.63 (TTM) and 2.01 times to its book value of Rs 69.80 and is expected to provide huge upside potential in medium to long – term.
Hem Securities has recommended a buy rating on Torrent Power , with price target of Rs 186, in its report dated May 21, 2009.
"The stock at the current market price of Rs 140.10 will trade 16.23 times to its earnings of Rs 8.63 (TTM) and 2.01 times to its book value of Rs 69.80 and is expected to provide huge upside potential in medium to long - term. We initiate a 'BUY' signal on the stock at the current levels with a target of Rs 186 in the medium term investment horizon (5- 6 months) with an appreciation of 33%," says Hem Securities' report.
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