Buy Torrent Power, target Rs 320: Arun Kumar

Arun Kumar of Reliance Securities has a buy call on Torrent Power Ltd. with a target price of Rs 320. The current market price of Torrent Power Ltd. is Rs 300.7. Time period given by the analyst is Intra Day when Torrent Power Ltd. price can reach the defined target. Arun Kumar recommended to keep stoploss at Rs 294.

Torrent Power Ltd., incorporated in 2004, has a market cap of Rs 14452.15 crore.
Torrent Power Ltd. key Products/Revenue Segments include Income From Power Supply which contributed Rs 12266.97 Crore to Sales Value (94.39 % of Total Sales), Manufactured Goods which contributed Rs 297.22 Crore to Sales Value (2.28 % of Total Sales), Traded Goods which contributed Rs 237.22 Crore to Sales Value (1.82 % of Total Sales) and Other Operating Revenue which contributed Rs 194.00 Crore to Sales Value (1.49 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 3842.00 Crore, up 2.83 % from last quarter Sales of Rs 3736.13 Crore and up 11.54 % from last year same quarter Sales of Rs 3444.54 Crore Company has reported net profit after tax of Rs 755.61 Crore in latest quarter. The company’s top management includes Mr.Jinal Mehta, Mr.Keki Mistry, Mr.Pankaj Joshi, Mr.Pankaj Patel, Mr.Samir Barua, Mr.Samir Mehta, Mr.Sudhir Mehta, Mrs.Bhavna Doshi, Ms.Dharmishta Raval. Company has Price Waterhouse Chartered Accountants LLP as its auditoRs As on 30-09-2019, the company has a total of 480,616,784 shares outstanding.