Tata's powerful shares gave 100% return in one year, people are still eager to invest money! What is the target of 2024?

Solar Project of TP Saurya Limited
In a recent development, TP Saurya Limited, a subsidiary of Tata Power Renewable Energy Limited (TPREL), has announced the successful commissioning of a 200 MW solar project in Bikaner, Rajasthan. This project, being implemented for Tata Power Trading Company Limited, is estimated to generate 485 million units of energy annually.

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Challenges for sustainable energy
Despite facing various challenges including adverse weather conditions and geopolitical constraints, the project was completed within the stipulated time frame. This achievement underlines Tata Power Renewable Energy Limited's unwavering commitment towards sustainable energy solutions and is a significant milestone in the renewable energy landscape.

Expansion of renewable energy capacity
With this addition, the total renewables capacity of Tata Power Renewable Energy Limited reaches 9,018 MW, which includes 4,547 MW projects under various stages of implementation. Its operational capacity is 4,471 MW, which includes 3,444 MW solar and 1,027 MW wind projects.

Tata Power share price target 2024
Speaking to TimesNow, market analyst VLA Ambala sees Tata Power as a quality stock that has the potential to be a part of any investment portfolio. Despite giving lower returns compared to its sectors, it is considered a strong performer. Bullish sentiment suggests holding the current price with a target price of Rs 420 to Rs 550 and adding more. The recommended holding period is between 15 days to 150 days, with the stop loss set at Rs 380.

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Tags: Share market, Tata