GMR Power shares surge another 3% on Emkay’s positive update

Shares of GMR Power saw a 3% rise after Emkay released a positive update on the company, recommending a ‘Buy’ with a target price of ₹180. The firm highlighted GMR Power’s healthy earnings visibility, backed by its core generating assets, which is expected to support its deleveraging efforts.

Emkay pointed out GMR Power’s shift towards an asset-light business model, showing improvement in the company’s balance sheet. Additionally, the management’s focus on deleveraging through strong operating cash flows has been noted as a key positive factor. The stock’s attractive valuation, with ample optionalities, further supports the ‘Buy’ recommendation.

As of 11:38 am, GMR Power shares were trading at ₹167.60 on the NSE, up by 3.11%.

GMR Power and Urban Infra Limited is an India-based holding company specializing in energy, urban infrastructure, and transportation. The company operates in segments like Power, Roads, Engineering, Procurement and Construction (EPC), and others. The Power segment is involved in generating and transmitting power, along with energy and coal trading, and has an operating capacity of over 3020 MW. It boasts a balanced fuel mix including coal, gas, LSHS, wind, and solar energy, and has around 1775 MW of capacity under development in India and Nepal.

GMR Power and Urban Infra Share Price history