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Motilal Oswal Report
Tata Power Company Ltd.'s shares are in focus after the brokerage firm Motilal Oswal has reiterated its Buy rating on the stock with at target price of Rs 488, implying a potential upsidd of 29% from the current market price of Rs 378.
The brokerage highlighted that Tata Power has identified land across three states, with the project likely requiring capex of ~Rs 180-200 million/MW and operating at a plant load factor of over 90%.
While preparatory work is underway, commissioning is unlikely before the early 2030s. Given India's target of 22GW of nuclear capacity by FY32, this initiative could create a meaningful long-term growth opportunity for Tata Power.
Management also shared its aspiration to nearly double revenue to Rs 1 trillion and increase net profit to Rs 10,000 crore by 2030.
Motilal Oswal models a ~34% YoY growth in FY27 PAT, led by a sharp reduction in Mundra losses to ~Rs 400 crore (from ~Rs 1,000 crore in FY26). This reduction will be aided by the Section 11 extension and subsequent SPPA framework, higher earnings from the Indonesian coal business (every $10/trillion rise in coal realisation adds ~10% to PAT), continued strong profitability at TP Solar backed by >90% cell utilisation and third-party cell sales, and commissioning of ~2.0–2.5GW of captive renewable capacity.
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