Jefferies sees upside from unmodelled storage capacity at India's Torrent Power
BUZZ-Jefferies sees upside from unmodelled storage capacity at India's Torrent Power ** Jefferies ("buy", PT:1,780 rupees) says Torrent Power's TOPO.NS planned 3-GW pumped-storage capacity is not factored into its FY29-FY30 estimates, leaving scope for earnings upside
** Brokerage expects 13% EBITDA CAGR over FY26-FY30, led by 36% CAGR in renewable-energy core earnings
** Jefferies expects renewable capacity to at least triple by FY30 as projects under implementation come online
** Flags transmission infrastructure constraints as near-term risk to commissioning timelines, but says delays are already factored into estimates
** Shares rise 1.2% to 1,310.60 rupees
** TOPO rated "buy" on average by 9 analysts, median PT at 1,500 rupees -- LSEG compiled data
** YTD stock down 0.27%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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Jefferies sees upside from unmodelled storage capacity at India's Torrent Power