Tata Power, Adani Power, NTPC & RPower: What Jainam Broking's Kiran Jani says on these 4 stocks

Kiran Jani, Head of Technical Research at Jainam Broking, expressed a positive outlook on power distribution stocks such as Tata Power Company Ltd and Adani Power, stating they appear attractive at current levels. In an interaction with Business Today on Wednesday, the market expert also shared his views on other players in the sector, including NTPC Ltd and Reliance Power Ltd.

Starting with Tata Power, Jani said the stock looks promising at current levels. "One can consider buying Tata Power at the current market price, keeping a strict stop loss below Rs 390. On the higher end, we can expect price targets of Rs 430–440 in the upcoming time," he advised.

On Adani Power, the market expert warned of high volatility. "It is a high-volatile counter, so keep a strict stop loss of Rs 540. Investors can expect a price target of Rs 600 in a short period," he added.

Turning to NTPC, Jani remained constructive on the stock's outlook. He said, "The counter could see an upside target of Rs 360–370 levels in the near term. Place a stop loss of Rs 320."

When asked about Reliance Power Ltd, which has been buzzing in recent sessions, Jani recalled its tumultuous history. "It was a nightmare for investors, even for RPower, when its IPO came in 2008. The stock is currently trading above a 12-year high. Previously in 2013, it traded around Rs 60 and now, for the first time, it's above Rs 60 on a monthly basis. That's a good sign."

He recommended that existing investors should continue holding the stock. "Considering the current market rally or the previous one, stop losses are a bit wide in terms of percentage. I think one should keep holding this particular stock with a stop loss of Rs 50."

Meanwhile, domestic benchmarks were trading positively today, supported by upbeat global cues. Investor sentiment turned bullish on Indian markets due to the Iran-Israel ceasefire, declining crude oil prices and a stable US dollar.