Torrent Power Ltd., incorporated in the year 2004, is a Mid Cap company (having a market cap of Rs 21916.13 Crore) operating in Power sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 3135.23 Crore, up .60 % from last quarter Total Income of Rs 3116.54 Crore and up 3.07 % from last year same quarter Total Income of Rs 3041.72 Crore. Company reported net profit after tax of Rs 207.78 Crore in latest quarter.
Investment Rationale
The brokerage maintains REDUCE rating and target price of Rs409 on TPW due to near-term headwinds of high RLNG prices. However, improving demand and upcoming capex are the positives.
Promoter/FII Holdings
Promoters held 53.6 per cent stake in the company as of June 30, 2021, while FIIs held 8.2 per cent, DIIs 19 per cent and public and others 19.2 per cent.
(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
