Hold PTC India; target of Rs 65: Sharekhan

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Sharekhan's research report on PTC India

PTC India’s reported standalone EBITDA of Rs. 102 crore (up 7.9% y-o-y; up 9.7% q-o-q) was above our estimate due to higher -than-expected power trading volume. Gross margin declined by 4.2% y-o-y to 6.23 paisa per unit. The company is likely to operationalise ~950 MW of new PPAs, which would drive volume growth. Board of Directors has recommended resolution to shareholders to dilute/divest its stake in PTC India Financial Services Limited and PTC Energy Limited, but deteriorating financial performance could delay/impact value unlocking.

Outlook

We maintain our Hold rating on PTC India with a revised PT of Rs. 65.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More