SMC Global said that CESC has been trading within a downward-sloping channel for a considerable period, indicating a phase of healthy consolidation rather than a reversal from higher levels.
Kotak suggested targets of Rs 320 for Tata Power, Rs 260 for Power Grid, Rs 325 for NTPC, Rs 75 for NHPC, and Rs 495 for JSW Energy. CESC, Coal India, and ACME Solar were valued at Rs 165, Rs 370, and Rs 350, respectively.
The proposals, which focus on improving power cost competitiveness, and streamlining tariff mechanisms, could have a material impact on power distribution companies such as Tata Power, Torrent Power, and CESC.
Profits are projected to increase for CESC, IEX, NHPC, NTPC, Power Grid, Torrent Power, and Tata Power, while Coal India, JSW Energy, and SJVN could see PAT declines. Top picks remain PGCIL and CESC.
Nuvama said the current market price captures recent tariff hikes and regulatory asset recovery, but stock valuations continue to underplay the upside from the RE pipeline and the solar manufacturing initiative.
Emkay Global maintains a 'Buy' recommendation for CESC, setting a target price of Rs 225, as the company outlines ambitious plans for renewable expansion and enhanced distribution focus.
Power stocks: While JSW Energy offers the strongest EPS growth in the sector, Antique said it would prefer to await a more attractive entry point before turning more positive.
Emkay Global has initiated coverage of CESC with a buy rating, predicting a 28% upside. Key drivers include aggressive renewable energy expansion and stable revenue growth.
SMC Global said that Uno Minda has shown a consistent upward trend, after forming a strong base near Rs 850-900 levels as it broke above the 200-DEMA, indicating a shift in medium-term.
Elara sees 26 per cent upside each on SJVN and Tata Power. The broking firm also sees over 20 per cent upside each on PTC India and JSW Energy.
CESC shares are down 17 per cent in the last month. The stock's weakness is largely in line with the weakness seen in BSE Power Index, Antique Stock Broking said.
Exclusive: Samir Arora On Budget 2026 | Top Sectors And Stocks | Trump, Tariff & Global Risks
Daily Calls LIVE: Ask Your STOCK MARKET TODAY QUERIES | Market Update LIVE | Share Market News Today




