Business
India's CESC gains; Investec raises target price
India's CESC gains; Investec raises target price
About this update from Cesc Ltd
** Shares of power supplier CESC NSE:CESC settled 3.03% higher at 176.95 rupees** Brokerage Investec raises target price by 7.4% to 233 rupees, keeps "buy"** Investec says co's Dhariwal project, favorable government tariffs in Noida City, strong capex and improving profitability in Rajasthan will drive 16% PAT CAGR over FY25-27 at 18.5 billion rupees ** Adds, with target 3 gigawatts renewable capacity addition by FY29, PAT will likely double in next five years** Stock rated "buy" on avg, median PT at 199 rupees - data compiled by LSEG ** CESC logged busiest trading session in six weeks, volumes at 2.4x the 30-day avg ** Stock down 4.8% so far in 2025