Motilal Oswal is bullish on Torrent Power has recommended buy rating on the stock with a target price of Rs 351 in its research report dated May 19, 2020.
Motilal Oswal 's research report on Torrent Power
Torrent Power’s (TPW) 4QFY20 results highlight the improved performance of its distribution businesses (franchise and licensed) along with some benefit of merchant sales. Consol. EBITDA improved 17% YoY to INR8.3b. TPW’s distribution business may get impacted due to lower volumes owing to the COVID-19 pandemic.
However, a healthy balance sheet should help it to tide over this wave. Maintain Buy with TP of INR351/share.
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