Tata Power share price rises 7% post Q4 numbers, board recommends 155% dividend

At the said meeting, the directors have recommended a dividend of Rs 1.55 per equity share of Rs 1 each (155 percent) to the shareholders for the year ended March 31, 2020.

CLSA | Rating: Buy | Target: Cut to Rs 72 from Rs 85

According to CLSA, the thermal does well as Mundra turns but renewables were disappointing. The company guided for 42 percent YoY debt reduction during FY21, reported CNBC-TV18.

The EPS estimates cut due to lower Indo-coal profitability said CLSA.

Jefferies | Rating: Hold | Target: Cut to Rs 35 from Rs 36

The company's results were above expectations primarily due to lower interest costs. The Mundra tariff hike timelines are still unclear and the company plans to cut the debt to Rs 25,000 crore from Rs 48,000 crore, reported CNBC-TV18.

However, the difficult markets could play a spoiler in monetisation plans, added Jefferies.

Morgan Stanley | Rating: Overweight | Target: Rs 38

The Q4 was operationally in-line, while company guided for sharp debt reduction with a target at Rs 25,000 crore in FY21 and net debt/equity at 1.5x, reported CNBC-TV18.

At 09:22 hrs, Tata Power Company was quoting at Rs 34.10, up Rs 1.75, or 5.41 percent on the BSE.