Shares of Torrent Power Ltd rise as much as 6.05 pct to highest in nearly seven years.
Sept-qtr consolidated net profit more than doubles to 3.18 bln rupees ($49.1 mln) from a year earlier.
Absolute EBITDA up 27 pct year-over-year, mainly due to heat rate savings at SUGEN power plant, steady contributions from Bhiwandi and Agra and rising profitability of renewable energy, Equirus Securities says in a note.
"Overall, we remain positive on Torrent Power and expect steady improvement in cash generation and RoE expansion of all the verticals over the coming 1-3 yr period," the note says.
More than 2.1 mln shares traded, more than the 30-day avg of around 1.4 mln shares.
Stock gained 52 pct this year as of Monday's close vs BSE Power index's 17.4 pct increase during the same period.
($1 = 64.7575 Indian rupees)
