Tata Power: This share of Tata has gone ahead of expectations, know the advice of experts before investing in the stormy rise.
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Tata Power Share: Indian stock market is witnessing a stormy rise on Wednesday. At 11.45 am, the Sensex was trading at 71,829.67 with a rise of 0.69 percent or 492.88 points. Whereas, Nifty is trading at 21,591.70 with an increase of 0.70 percent i.e. 150.35 points. Meanwhile, Tata Power, a company of Tata Group, the country’s oldest industrial house, is witnessing growth. This month the company’s shares have reached a 52-week high. The market cap of the company is around Rs 103896.47. In the last one year, the company has given returns of about 56 percent to investors. Exactly a year ago today, on December 27, 2022, the company’s shares were at Rs 207.70. At the same time, today it is trading at 329.90 paise. In the last one month, investors have made a profit of about 20.94 percent from the company’s shares. In such a situation, the brokerage firm estimates that the company’s shares will continue to rise in the coming year also. In view of this, the target has been changed to Rs 342. Earlier the estimate was Rs 300.
What is the movement of the stock?
This year, on December 8, 2023, it had touched a record high of Rs 335.80. It reached an intraday high of Rs 335.25. The stock set new record highs for four sessions in December. Tata Power’s stock had risen 6% to an all-time high of Rs 298.60 on December 6. Tata Group stock had crossed the previous record high of Rs 298 on April 7, 2022. Whereas, in the next session, the stock crossed the Rs 300 level and reached a new high of Rs 322.30 on BSE with a gain of 9.58%. Experts believe that the company’s shares can set a new record in the coming days.
Company will invest Rs 60,000 crore in three years
Praveer Sinha, Chief Executive Officer and Managing Director of energy sector company Tata Power, had said that the company will invest Rs 60,000 crore in the next three years, half of which will be invested in the renewable energy sector. Giving information, Praveer Sinha said that the company will not add any new coal based plant during this period. Currently, the total market cap of the company, according to Tata.com, is Rs 86513.82 crore. Tata Power is investing Rs 15,000 crore in the financial year 2023-24, which will increase to about Rs 20,000 crore in the financial year 2024-25. It is estimated to be Rs 22,000 crore in the financial year 2025-26 and Rs 23,000 crore in 2026-27. Thus, the total capital expenditure of Tata Power in the next three financial years will be more than Rs 60,000 crore. He said that along with the previous announcement of setting up two hydro-power pumped storage projects (PSPs) of 2,800 MW each with an investment of Rs 13,000 crore, the company has also identified three more such projects with a capacity of 9,000 MW each. These projects are located in Potalpali, Kataldhara and Nenavali in Raigarh district of Maharashtra. Along with this, the company has not entered into any purchase agreement for the electricity generated from two PSPs located at Bhivpuri and Shirvata. He also indicated to connect these projects with solar and wind energy capacity.
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