Jefferies has a buy call on the stock with a target price of Rs 195 as earnings should rise at 16 percent CAGR between FY16-19. The company's efforts focused on raising profit from internal efficiencies & PLF (plant load factor) improvements, the brokerage house says, adding confidence remains in adding 3-5 GW in FY17 against expectation of 2 GW.
Market :
Equity benchmarks started off day on a flat note with positive bias Tuesday, with the Nifty holding 8100 level, supported by ITC and Infosys. HDFC, Reliance Industries, HDFC Bank, ICICI Bank and Tata Motors were under pressure. The 30-share BSE Sensex was up 24.51 points at 26399.21 and the 50-share NSE Nifty rose 6.25 points to 8110.60. The Indian rupee has opened higher today at 67.86 per dollar against previous close of 67.87 a dollar. Ashutosh Raina of HDFC Bank says the dollar index continues to move higher, currently above 103 level, after the hawkish FOMC meeting and some recent geopolitical concerns. The USD-INR pair has also slid from recent highs with continuing portfolio outflows and overall dollar strength, he adds. Raina expects the pair to trade in the 67.60-68/dollar range today.
RBI Guv did not handle demonetisation well, says Chidambaram
Hitting out at RBI Governor Urjit Patel, former Finance Minister P Chidambaram today said he was "extremely disappointed" that the central bank chief did not handle the demonetisation issue as any "independent autonomous institution should have".
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