Insightful Investment: IIFL Research's Buy Call on Torrent Power, Target ₹ 1230

IIFL Research has buy call on Torrent Power with a target price of Rs 1230. The current market price of Torrent Power is Rs 1191.2

About Torrent Power:

Torrent Power Limited is a leading Indian power generation and distribution company, listed on the National Stock Exchange (NSE) of India. Headquartered in Ahmedabad, it has a presence in Gujarat, Maharashtra, Chhattisgarh, Punjab, and Uttar Pradesh. The company operates thermal, renewable, gas-based, and hydro-based power plants with a total installed capacity of over 4,500 MW. Torrent Power also distributes electricity to over 3.5 million customers across 15 cities and towns. With a strong emphasis on environmental sustainability, the company has implemented several green initiatives and aims to reduce its carbon footprint.

52 Week Price Trend:

TORNTPOWER's current market price (CMP) stands at Rs 1191.2. Over the past 52 weeks, the company's share price has fluctuated considerably, with a 52-week high of Rs 1236.95 and a 52-week low of Rs 484.2. These figures indicate that the stock has experienced both significant gains and declines in value during the year, suggesting volatility in its price movement.

Stratzy's Analysis:

TORNTPOWER has been rated BBB by Stratzy's MOST framework, indicating medium fundamental risks. This rating is based on an assessment of the company's management, outlook, safety, and trend, with each pillar receiving a score that contributes to the overall rating. The BBB rating suggests that TORNTPOWER has some strengths but also areas where improvement could be made in order to reduce its overall fundamental risks.

Company's Fundamentals:

Torrent Power (NSE:TORNTPOWER) is currently trading at a Price-to-Earnings (PE) ratio of 28.96, indicating that investors are willing to pay 28.96 times the company's annual earnings per share for its stock. The Price-to-Book (PB) ratio of 4.53 suggests that the market value of the company's assets is 4.53 times their book value. Lastly, the Dividend Yield of 1.16% represents the annual dividend payout as a percentage of the current share price, providing an indication of the income that shareholders can expect to receive from their investment.

Fundamental and Technical information provided in this blog were last updated on 12 Mar, 2024

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