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Tata Power aims to nearly double its revenue to Rs 1 lakh crore and achieve a profit after tax of Rs 10,000 crore by 2030, according to CEO Praveer Sinha. The company plans to increase its EBITDA from over Rs 14,000-15,000 crore to over Rs 30,000 crore and has ramped up its capital expenditure significantly, targeting Rs 25,000 crore annually moving forward.
Tata Power shares surged over 4% following the release of its Q2FY25 results, with several brokerages reaffirming 'Buy' ratings. Elara Securities raised its target price to Rs 518 and upgraded its rating, while Morgan Stanley set a higher target of Rs 577, citing benefits from power transmission capex and green investments.
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