Harendra Kumar, HD-Research, ICICI Direct is of the view that there are more upside in Birla Power .
Kumar told CNBC-TV18, "When we initiated coverage, Birla Power was around at Rs 27, and we thought it was an attractive business with a great brand name, and going through a restructuring at that point in time and available at Rs 60 crore. So, that was one call. Second is, the management has clearly shown it wants to take this business forward in terms of the current product proposition. I think over the longer-term, they want to be in the batteries business as well as probably some part of the power play opportunity that is available in the country. And the core competencies are there and I think the stories will unfold. We had a target of Rs 55, which is around the current market price. There are some more upsides out there. But all in all, the space, the kind of power crunch that we are seeing, will continue to grow and with the brand name that it is and a good product mix, I think there is some more value left."
