Investors who have faith in Tata Group shares have always received good returns. Most of the shares of the Tata Group have given investors multi-bagger returns, but in recent days, investors are hoping to become rich with Tata Power shares. Tata Power shares have recently been trading at a rapid pace. Tata Power is in a strong position. On Thursday, 7 December, Tata Power’s share price jumped nearly 13 percent to reach Rs 332. Prior to this, the share was trading with an upward trend on Wednesday. In the last five trading days, the company’s shares have also seen a 23 percent increase, and the market capitalization of the company has crossed the mark of Rs 1 lakh crore. This is the sixth company of the Tata Group to achieve this milestone. In the meantime, brokerage firms are also showing enthusiasm for Tata Group shares and are recommending buying shares. The brokerage firm JM Financial has increased its target on the shares by 40 percent from Rs 200 to Rs 350. What is the opinion of the brokerage firm? JM Financial has upgraded the stock rating from “Hold” to “Buy”. Tata Power Limited’s share price reached a record high on Thursday, increasing by 13 percent. JM Financial mentioned the four major aspects of Tata Power, which include high margins and exiting low-value businesses. The company also focuses on the expansion of its brownfield hydro storage and transmission businesses. Tata Power Distribution Companies (DISCOM) have added more than 1 million new electricity connections in Odisha since 2020. According to a statement issued by the company, Tata Power and the Odisha government are part of a joint venture called S (Tata Power) Central, TP South Odisha, TP Northern, and TP Western Odisha Distribution Limited, which operate throughout the state. The statement said that from June 2020 to November 2023, there were a total of 376,399 new connections in TP Madhya Pradesh, while from April 2021 to November 2023, there were 155,801 new connections in the TP South Odisha Distribution Limited area.
In summary, Tata Power shares have been performing well in recent days, with a significant increase in share price and market capitalization. Brokerage firms are also optimistic about the company’s shares, with JM Financial upgrading the stock rating to “Buy” and increasing the target price. Tata Power is focusing on expanding its hydro storage and transmission businesses, and its distribution companies have added a substantial number of new electricity connections in Odisha.
1. Tata Power share price surged by nearly 13 percent on Thursday, December 7, reaching Rs. 332.
2. In the past five trading days, the company’s shares have witnessed a 23 percent increase.
3. The market capitalization of Tata Power has crossed Rs. 1 lakh crore.
4. This is the sixth company of the Tata Group to achieve this milestone.
5. Brokers are showing enthusiasm towards Tata Group shares and recommending buying them.
6. A brokerage firm, JM Financial, has upgraded its rating for Tata Power shares from “Hold” to “Buy.”
7. JM Financial highlighted four major aspects of Tata Power, including high margins and exiting low-value businesses.
8. The company also focuses on expanding its brownfield hydro storage and transmission businesses.
9. Tata Power’s distribution companies (DISCOMs) have added more than 1 million new electricity connections in Odisha since 2020.
10. Tata Power is part of a joint venture with the Odisha government called TP Central, TP Southern, TP Northern, and TP Western Odisha Distribution Limited, operating throughout the state.
11. The joint statement mentions that from June 2020 to November 2023, TP Central had the highest number of new connections in Madhya Pradesh, while TP Southern Odisha Distribution Limited added 155,801 new connections in the TP South Odisha Distribution Limited area from April 2021 to November 2023.
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