ICICI Securities has a buy call on Tata Power Company Ltd. with a target price of Rs 96.0 . The current market price of Tata Power Company Ltd. is Rs 77.95. Time period given by the brokerage is a year when Tata Power Company Ltd. price can reach defined target.

Tata Power Company Ltd., incorporated in 1919, is a largecap company with a market cap of Rs 21056.66 crore.

Investment rationale by ICICI Sec

We maintain our BUY rating on TPWR with an unchanged target price of Rs96/share as we believe there is some upside at current levels. Change in international coal prices and reduction in Mundra under-recoveries could trigger further upside. Key downside risks: i) drop in international coal prices, and ii) increasein Mundra under-recoveries.