Citi keeps Tata Power at Buy, sees 41% upside as rooftop solar accelerates
Citi reiterated its Buy rating and Rs 525 target for Tata Power, versus a Rs 371.25 close. The utility reported 64% year-on-year growth in Q1 rooftop-solar revenue and is targeting about 60% growth in FY27, alongside a push to raise market share to roughly 25%.
Citi retained its Buy rating on Tata Power with a Rs 525 target, citing stable Q1 results, rising capex and rooftop-solar momentum. Tata Power targets roughly 60% FY27 rooftop-solar growth and plans to lift market share to about 25%.
Why this matters
The Citi call follows Tata Power's 25% rooftop-solar share target, expected momentum in rooftop solar, manufacturing and T&D, and 11% Q1 profit growth alongside higher clean-energy capex.
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