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Torrent Power surges 2.5% on ₹22,000cr thermal plant LOA
Torrent Power just landed a huge ₹22,000cr Letter of Award to build and run a 1,600 MW thermal power plant in Madhya Pradesh.
The news sent its stock climbing over 2.5% on September 1, hitting an intraday high as investors rushed in—over 28 lakh shares changed hands worth nearly ₹360cr.
Morgan Stanley maintains ₹1,444 target for Torrent Power
Big players like Morgan Stanley are still bullish on Torrent Power, keeping their target price at ₹1,444 and expecting solid returns from this project.
Financially, Torrent looks strong with low debt levels and plenty of room to grow.
This is now their biggest investment in the power sector yet, pushing their total capacity up to 9.6GW—a major move for the company's future plans.