Tata Power to outperform the sector, says Antique Broking; raises target price on stock

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Key Points

Tata Power Company share price has surged over 67% in the last one year as compared with the sectors median performance of 94%, while the companys market capitalization crossed 1 lakh crore..

Antique Stock Broking raised the target price of Tata Power shares as it believes the company will outperform the sector for three crucial reasons..

The brokerage firm maintained a Buy rating on the stock and revised the target price to 450 per share from 422 earlier, implying an upside of more than 32% from Tuesdays closing price..

Meanwhile, Tata Power on Tuesday said its subsidiary Tata Power Renewable Energy Ltd (TPREL) plans to make investments worth 70,800 crore for renewable energy projects in Tamil Nadu..

. Tata Power share price has gained over 5% in one week, while the stock is up more than 35% in three months..

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