India's CESC gains as Investec sees healthy demand, growth prospects

Inox Wind

27/08/2024 06:35

** Shares of CESC  CESC.NS  rise 5.2% to 198.4 rupees 
    ** Investec lists the power utilities company among its top
picks in the sector, citing healthy power generation,
comfortable valuations and strong earnings growth prospects    
    ** Investec says India's power demand will grow at a CAGR of
6.2% from fiscal year 2024 to 2032
    ** Addition of further capacity to cater to rising power
demand to open opportunities in transmission, helping the likes
of NTPC, CESC, Inox Wind  INWN.NS  and Kalpaturu  KAPT.NS 
    ** INWN and KAPT stock up 0.9% and 0.1%, respectively, NTPC
stock down 0.5%, on the day - exchange data
    ** Investec's target price of 230 rupees is the second
highest of the 10 analysts tracking the stock, whose mean rating
is equivalent to "buy"
    ** Median target price is 205 rupees, almost similar to
current levels - LSEG data
    ** CESC up 51% in 2024 so far, outperforming the 27.2% rise
in small-cap index  .NIFSMCP100  - exchange data
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))