External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<p>Accordingly, we revise our TP upwards to INR209 by assigining higher multiples to the solar business, reducing losses at Mundra, and robust growth in its solar rooftop and pump business. However, since the stock has risen a steep 70% over the past three months to INR218, it seems fairly valued currently. Hence, we downgrade it to REDUCE from a BUY. Tata Power reported an 18% YoY rise in consolidated revenue to INR98.1bn in Q2FY22, led by improvement across the standalone business and strong execution in the solar EPC segment.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Accordingly, we revise our TP upwards to INR209 by assigining higher multiples to the solar business, reducing losses at Mundra, and robust growth in its solar rooftop and pump business. However, since the stock has risen a steep 70% over the past three months to INR218, it seems fairly valued currently. Hence, we downgrade it to REDUCE from a BUY. Tata Power reported an 18% YoY rise in consolidated revenue to INR98.1bn in Q2FY22, led by improvement across the standalone business and strong execution in the solar EPC segment.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Power (Results Review 2QFY22): Margin impacted, but high JV share boosts PAT. Downgrade to...