Ride on power
reforms: Morgan Stanley
Economic Times — March 15,
2004
- Privatisation
momentum likely after elections: We believe
that the process of initiating privitasation
of state owned power distribution business is
likely ot begin in a few states after the general
and assembly elections in April-May 2004. This
is likely to open a new growth opportunity for
Tata Power.
- Price
target increased by 13%: We have increased the
price target of TPC by 13%, which translates
into 19% upside from current levels.
- We
have an attractive view on the India utilities
industry: long-term growth should be strong
(driven by privatisation) with little risk to
current earnings - a highly attractive combination,
in our view.
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