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CAPITALVIA GLOBAL RESEARCH
PTC India (BUY)
CMP: ₹56.6
TGT: ₹65
PTC India is one of the leading providers of power trading solutions in India, which was established in 1999 as a public-private partnership initiated by Government of India. The primary focus of the organisation is to develop the country as a commercially vibrant power market.
Driven by the vision to create a vibrant power market the company has made forays into fuel intermediation, renewable sources as well as investment in energy assets. PTC India is authorised to trade electricity with Bhutan, Nepal and Bangladesh. A variety of items in energy trading market are attributed to the firm to satisfy the customer divergent needs.
The top line of company rose by 4.04 per cent to ₹4,786.18 crore, whereas the bottom line of the organisation grew by 40.97 per cent to ₹134.9 crore. Moreover, the trading activities undertaken by PTC includes long term trading of power generated from large power projects as well as short term trading arising as a result of imbalance between supply and demand.
Aligning the response of the firm to shape its dream and considering its financials, we recommend ‘buy’ on PTC with a target price of ₹65.
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