April 20, 2022

Broker’s call: Tata Power (Buy)

Target: ₹342 CMP: ₹246.70 Tata Power Renewable Energy Ltd (TPREL), fully-owned subsidiary of Tata Power, concluded the equity transaction with Blackrock (along with the UAE-based co-investor Mubadala Investment Company), implying valuation of ₹109/share.