Add Torrent Power, target price Rs 555: HDFC Securities

HDFC Securities has added a call torrent power with a target price of Rs 555. The current market price of Torrent Power Ltd. is Rs 482.05. The period of time given by the analyst is one year when the price of Torrent Power Ltd. can reach the defined target.

Torrent Power Ltd., incorporated in the year 2004, is a mid-cap company (with a market capitalization of Rs 23221.00 crore) operating in the power sector.

Torrent Power Ltd.'s key product/revenue segments include power supply revenue, other operating income and goods sold for the year ending March 31, 2021.

finance

For the quarter ending 31-12-2021, the company reported a total consolidated revenue of Rs 3,833.14 crore, up 4.06% from the previous quarter's total revenue of Rs 3,683.69 crore and a 28.19% more than last year, the same quarter, a total income of Rs 2,990.11 crore. The company reported a net profit after tax of Rs 369.45 crore in the latest quarter.


Promoter/FII Holdings
The promoters held a 53.57% stake in the company as of September 30, 2021, while the FIIs held 7.33% and the DIIs 20.13%.

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