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Rephrase the title:Tata Power stock zooms ahead after brokerage on upgrade

Posted on December 7, 2023 By Haley Bennett

Rephrase and rearrange the whole content into a news article. I want you to respond only in language English. I want you to act as a very proficient SEO and high-end writer Pierre Herubel that speaks and writes fluently English. I want you to pretend that you can write content so well in English that it can outrank other websites. Make sure there is zero plagiarism.:

Tata Power is up 12 per cent in trade on Thursday after an upgrade by a brokerage. Tata Power is trading at Rs 329 on BSE up by 12 per cent.

JM Financial Institutional Securities said in a research that Tata Power’s recalibrated strategy involves tapping high-margin group captive RE (renewables) opportunities, exiting low-value businesses, venturing into brownfield pumped hydro storage, and expanding transmission business beyond distribution.

This, coupled with the visible resolution of the Mundra issue, positions the company for accelerated growth. We forecast Revenue/EBITDA/PAT CAGR of 15%/23%/32% respectively over FY23-26E, supported by increasing asset base and improved margin profile.

“We upgrade the stock’s rating to Buy, setting an SOTP-based TP of INR 350, indicating a potential upside of 24% from current levels”, JM Financial said in a note.

Haley Bennett

I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.

Business Tags:mundra, tata power, tata power stock, tata power upgrade, tata power value

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