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Tata Power Gains 3%

Citi has a buy call on Tata Power with a target price at Rs 76 per share as it does not expect consent on Mundra UMPP before Maharashtra and Haryana elections.

For tariff hike, approval from all the five states is necessary.

At current coal prices, the tariff hike could be Rs 0.40-0.50 per unit, Citi said, adding Tata Power expects Indonesian mining licence that expires in 2022 to be renewed.

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Tata Power Gains 3%

Citi has a buy call on Tata Power with a target price at Rs 76 per share as it does not expect consent on Mundra UMPP before Maharashtra and Haryana elections.

For tariff hike, approval from all the five states is necessary.

At current coal prices, the tariff hike could be Rs 0.40-0.50 per unit, Citi said, adding Tata Power expects Indonesian mining licence that expires in 2022 to be renewed.

2019-09-12 08:12:24

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