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Last Updated : Mar 20, 2019 03:41 PM IST | Source: Moneycontrol.com

Buy Torrent Power; target of Rs 315: Motilal Oswal

Motilal Oswal is bullish on Torrent Power has recommended buy rating on the stock with a target price of Rs 315 in its research report dated March 19, 2019.

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Motilal Oswal's research report on Torrent Power


Torrent Power (TPL) is engaged in the distribution and generation of electricity. The company has installed generation capacity of 3.7GW and under-construction capacity of 0.8GW. TPL is the sole electricity distributor to the cities of Ahmedabad (incl. Gandhinagar), Surat, Bhiwandi and Agra, with a distribution reach of over 1,367sq.km.


Outlook


The stock trades attractively at ~1.2x FY21E P/BV. We initiate coverage on the stock with a Buy rating. Higher LNG prices and lower wind PLF, however, are the potential risk factors.


For all recommendations report, 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.

First Published on Mar 20, 2019 03:41 pm
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