This dark horse of Tata Group shares has reached the highest level of life, will rise further.
Shares of Tata Power have given investors 125% return in one year. Analysts at brokerage firm Anand Rathi expect further growth. The brokerage has advised investing in Tata Power shares every fall.
New Delhi. Shares of Tata Group company, Tata Powershare continued to rise for the fourth consecutive trading session today, Tuesday, April 30. Shares of Tata Power rose nearly 1.5 percent to touch an intraday high of Rs 455.30 today. The multi-beagger stock was trading at Rs 453.50 with a gain of 123% till the time of writing. Investors are betting heavily on shares of Tata Power, market experts say, in view of the possibility of a sharp rise in power demand this summer.
Analysts believe that the rise in Tata Power shares is not going to stop anytime soon. The stock has given breakout at Rs 443 level and this stock may touch Rs 460-470 level in near future. Shares of Tata Power have given investors around 125% returns in the last one year. The stock has gained 37% so far in the year 2024. The stock has gained 11% in the last one month.
Also Read – Brokerage no longer expects to earn from this multi-beagger stock, cuts target price after seeing fourth-quarter results
That is why the price is increasing.
According to a report in LiveMint, Profitmart Securities Research Head Avinash Gorakshkar says, “Tata Power shares are rising as the market expects the company to grow over the next two to three quarters due to rising power demand. Stronger summer quarterly results are expected to pay off further.
Ganesh Dongre, Senior Manager (Technical Research) at brokerage firm Anand Rathi says Tata Power’s share has been rising steadily and has now given a fresh breakout at the 443 level. It looks strong on the stock chart pattern. Investors should take every downturn as an investment opportunity.
The price can go up to 470.
Experts at brokerage firm Anand Rathi believe that Tata Power shares have formed a strong base at the Rs 425 level. Stock looks attractive on charge pattern. He has advised investors to buy the stock at current levels. Brokers believe Tata Power shares could touch the Rs 460-470 level.
(Disclaimer: The stocks mentioned here are based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 is responsible for any profit or loss you make. will not be responsible).
Tags: money making tips, Multi bagger stock, Stock market, Stock tips
First Publication: April 30, 2024, 13:15 IST
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