Morgan Stanley has maintained an overweight rating on Tata Power, with a target price of ₹577, indicating an upside of 35.3% from the current market price of ₹426.50. The brokerage noted that Tata Power’s performance in generation, Transmission & Distribution (T&D), and renewable energy met expectations, while the solar EPC business delivered a positive surprise. With third-party solar EPC execution set to ramp up, the company plans to commission 5GW of captive renewable energy generation by FY26, reinforcing its green energy growth trajectory.
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