Tata stock to buy: Shares of Tata Power, the power company of Tata Group, are trading at Rs 289.50 with a gain of 5.81% today. The company’s shares have seen a rise of up to 22% in the last five trading sessions. Actually, this boom comes after the news that Tata Power subsidiary Jet Star has started 160 MW AC solar project in Rajasthan. About 6,75,000 monocrystalline PV modules were used in this installation and will produce 387MU of energy per year.
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Target price of Rs 316
Domestic brokerage and research firm Anand Rathi expects the company’s performance to improve from current levels. It has maintained its BUY rating on Multibagger stock with a revised target price of ₹316 per share. Shares of Tata Power have gained over 175% in one year, while the stock of Tata Group is up more than 28% so far in 2022 (Year-to-date or YTD).
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Tata Power Initiatives for EV Charging Facility
Tata Power Company has tied up with leading real estate developer Rustomjee Group to offer end-to-end EV charging facility across all its residential and commercial projects in the Mumbai Metropolitan Region (MMR). With this collaboration, Tata Power will set up a dedicated charging infrastructure for residents of Rustomjee in the Mumbai Metropolitan Region. Anand Rathi informed that this partnership will enable the residents of Rustomjee to have access to a uniform and all-encompassing EV charging experience.