India's CESC gains; Investec raises target price

CESC

01/07/2025 11:13

** Shares of power supplier CESC CESC.NS 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

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))