Tata Power shares get Equal Weight rating from Morgan Stanley with target price of Rs 399

Tata Power reported Q1FY27 consolidated PAT of Rs 1,401 crore, up 11 percent YoY, with revenue rising 8 percent to Rs 18,898 crore and EBITDA up 8 percent to Rs 4,249 crore. The company deployed a record quarterly capex of Rs 5,375 crore across renewables, transmission, distribution and clean energy, while its solar manufacturing PAT jumped nearly 3.9 times YoY to Rs 371 crore. Morgan Stanley retained an Equal Weight rating with a target price of Rs 399, noting that results were broadly in line with expectations.