Tata Power, Reliance Energy Can Append 5-8% - Ambareesh Baliga

Ambareesh BaligaReliance Energy of Karvy Stock Broking is of the view that investors will hold Reliance Energy, Tata Power stock tightly as there are full chances that the both stocks can insert another 5-8% from their subsisting level.

Baliga said, “Power stocks had under performed if you see the last 6-12 months they had under performed. So basically you have seen this stocks moving in the last month-month and a half other than NTPC, which started its move from Rs 110-120 onwards. But there is some more steam left in most of these stocks and I would still suggest that Reliance Energy and Tata Power could still move up another 5-8% move from here.”

Reliance Energy Limited was established in 1929. It is a fully integrated utility, which is engaged in the production, transmission and delivery of electricity. It grades among India’s top numbered private companies on all major financial parameters consisting assets, gross sales, earnings and market capitalization.

Tata Power (TPL) is a pioneer in the Indian power sector. It is one of India’s biggest energy utilities. In 1911, it was started as the Tata Hydroelectric Power Supply Company. It is a mixture of two entities: Tata Hydroelectric Power Supply Company, Andhra Valley Power Supply Company (1916).

TPL offers its services in power generation, distribution and transmission; oil and gas; and broadband and communications. The company has large overseas power projects in several countries, which include the UAE, Malaysia, Saudi Arabia, Kuwait and Algeria.

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