Shares of CESC experienced a nearly 2% rise, fueled by the approval from the Uttar Pradesh Electricity Regulatory Commission for a power purchase agreement (PPA).
The approved PPA entails power procurement of 95 MW RTC power per annum over a five-year period, as announced by the electricity supplier on Wednesday.
Analyst data from LSEG indicates a strong buy rating for CESC stock, with an average analyst rating. Despite a price target of 108 rupees below the current market price, the stock remains on track for a third consecutive weekly gain if the current trend persists.
As of 10:22 am the shares were trading 1.35% higher at ₹138.80
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