Tata Power Share Price at Rs 357 After Q2 FY27: Record Profit, Weak Solar EPC and Rising Net Debt Explained
- November 12, 2026
- Posted by: Kunal Singla
- Category: News
Tata Power Rs 357.25 (12 Nov, 2:49 PM). Q2 net profit Rs 1,366 Cr, up 49%. Revenue Rs 19,886 Cr. Net debt Rs 62,681 Cr. Targets Rs 415 to Rs 525.
Quick Answer
The Tata Power share price is Rs 357.25 on the NSE, down 0.76%, after an early rise of more than 2% faded post results. Tata Power reported its highest-ever quarterly profit of Rs 1,366 crore, up 49%, on revenue of Rs 19,886 crore. Weak solar EPC profit, curtailment in renewable generation and net debt of Rs 62,681 crore explain why the rally did not hold. Brokerages remain positive, with targets between Rs 415 and Rs 525.
Tata Power Q2 FY27 numbers beat expectations on the headline, yet the Tata Power share price slipped from Rs 367.4 to Rs 357.25 by 2:49 PM on 12 November 2026. Volume crossed 1.6 crore shares on the NSE.
The Tata Power stock is down about 17% in six months, against a gain of about 5% for the Nifty 50, and sits 23.2% below its 52-week high of Rs 464.9. Investors want to know whether the quarter changes that picture, and what the Tata Power Q2 results say about renewables, solar EPC and debt.
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Tata Power Q2 Results: Record Profit, Uneven Quality
Revenue from operations rose 26% year on year to Rs 19,886 crore. Consolidated net profit was Rs 1,652 crore, up 33%, while profit attributable to owners was Rs 1,366 crore, up 49% from Rs 919 crore. Both figures are reported, and the difference is the share that goes to minority holders.
| Metric | Q2 FY27 | Comparison |
|---|---|---|
| Revenue from operations | Rs 19,886 crore | Up 26% YoY |
| Consolidated net profit | Rs 1,652 crore | Up 33% YoY |
| Profit attributable to owners | Rs 1,366 crore | Up 49% YoY, highest ever |
| Profit before exceptional items | Rs 1,521 crore | Reported in company presentation |
| EBITDA | Rs 3,668 crore | Up 11% YoY |
| Net debt | Rs 62,681 crore | Rs 61,238 crore in Q1 FY27 |
| H1 FY27 attributable profit | Rs 2,542 crore | Up 28% YoY |
Profit grew faster than EBITDA, helped by higher profit from coal-linked associates and a recovery at the Mundra plant, which ran at 89% availability and a 69% plant load factor after a suspension a year ago.
Why the Tata Power Stock Gave Up Early Gains
Analysts pointed to three soft spots. Profit from the Tata Power solar EPC business fell, the renewable IPP business was hurt by curtailment in Rajasthan and Gujarat, and solar cell and module margins took a hit of about 257 basis points. EPC margins fell by about 410 basis points, and no new third-party Tata Power solar EPC orders were reported in the quarter.
Brokerages still stayed constructive on Tata Power shares. JPMorgan called the results broadly healthy, and Citi said recurring profit rose 51% and was in line with its estimates. The market reaction suggests investors want these weaker segments to stabilise before paying more for the Tata Power stock.
Tata Power Renewable Energy: Capacity Drives the Story
Tata Power Renewable Energy commissioned 419 MW of utility-scale projects in Q2, more than double the 182 MW a year earlier, along with 131.2 MWh of battery storage. The utility-scale portfolio is 7.2 GW, made up of 5.8 GW of solar and 1.3 GW of wind.
The company plans to execute more than 2 GW in the second half of FY27, including 1,075 MW of solar, 969 MW of wind and 274 MWh of storage. It also aims for about 12 GW of operating capacity in FY28. Delivery on that schedule decides how fast earnings can grow, and how much more debt is needed.
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Tata Power Share Price Target: What Brokerages Say
Targets were issued after the results and range from Rs 415 to Rs 525. Motilal Oswal noted that revenue was in line while EBITDA missed estimates, and still kept a Buy.
| Brokerage | Rating | Target price | Implied upside from Rs 357.25 |
|---|---|---|---|
| Citi | Buy | Rs 525 | 47.0% |
| Motilal Oswal | Buy | Rs 440 | 23.2% |
| JPMorgan | Neutral | Rs 423 | 18.4% |
Tata Power Stock Data and Technical View
| Parameter | Value (12 Nov 2026, 2:49 PM) |
|---|---|
| Stock (NSE: TATAPOWER) | Tata Power Company Ltd |
| Current price | Rs 357.25 (down 0.76%) |
| Day open / high / low | Rs 362.45 / Rs 367.4 / Rs 355.8 |
| 52-week high / low | Rs 464.9 / Rs 333.2 |
| Market cap | Rs 1,15,336 crore |
| PE ratio (industry PE) | 21.94 (20.74) |
| Price to book / book value | 2.92 / Rs 123.51 |
| EPS (TTM) / ROE | Rs 16.45 / 9.49% |
| Debt to equity / dividend yield | 1.93 / 0.69% |
The Tata Power share price is trading above its 20-day average of Rs 351.59 and 20-day EMA of Rs 353.89, and the MACD of 1.13 is above its signal line at -0.50. The SuperTrend support is at Rs 335.69, with an upper band of Rs 379.18. The 14-day RSI of 56.9 is neutral. For context, the benchmark Nifty 50 has outperformed the stock over six months.
These are reference levels and not recommendations. A move above Rs 367.4 would test the upper band, while a close below Rs 335.69 would weaken the setup.
Should You Buy Tata Power Shares After Q2?
The case for the Tata Power stock is a diversified earnings base across generation, distribution, renewables and solar manufacturing, a record profit quarter, visible capacity additions and a Tata Power share price target range above the market price. Tata Power shares trade close to industry valuation, with a PE of 21.94 against 20.74.
The case against is debt load and margin drift. Borrowing keeps rising with capex, ROE is 9.49%, and weaker EPC and module margins could limit profit growth even as capacity grows. Staggered buying of Tata Power shares is one approach investors consider, but suitability depends on risk limits and time horizon.
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Key Risks for Tata Power Shares
Execution is the first risk for the Tata Power stock, because more than 2 GW has to be delivered in six months. Curtailment in Rajasthan and Gujarat can limit renewable output and returns. Rising net debt, with debt to equity at 1.93, is the third risk for the Tata Power stock, and a slower solar EPC order flow is the fourth.
Conclusion
The Tata Power share price is Rs 357.25 after the Tata Power Q2 results showed a record profit of Rs 1,366 crore, yet the stock gave up an early rise because Tata Power solar EPC weakness, curtailment and net debt of Rs 62,681 crore weighed on sentiment. Broker targets between Rs 415 and Rs 525 point to upside, and the chart is neutral with support at Rs 335.69. Capacity delivery and margin recovery will decide whether the next move holds.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Why is the Tata Power share price falling after Q2 results today?
Ans. The stock opened at Rs 362.45, touched Rs 367.4 in the morning and then slipped to Rs 357.25, down 0.76% from the previous close of Rs 360. Analysts flagged weaker solar EPC profit, curtailment in the renewable IPP business and margin pressure in solar cells and modules, which led to profit taking after an early rise of more than 2%. The record profit itself was not in doubt, so the move looks like a reaction to quality of earnings rather than to the headline.
What are the Tata Power Q2 FY27 results?
Ans. Revenue rose 26% year on year to Rs 19,886 crore. Consolidated net profit was Rs 1,652 crore, up 33%, and profit attributable to owners was Rs 1,366 crore, up 49% from Rs 919 crore, reported as its highest-ever quarterly profit. EBITDA rose 11% to Rs 3,668 crore, so profit grew faster than operating earnings.
What is the Tata Power share price target after Q2?
Ans. Brokerage targets range from Rs 415 to Rs 525. Citi has a Buy with Rs 525, Motilal Oswal has a Buy with Rs 440, and JPMorgan has a Neutral with Rs 423. Against Rs 357.25, these imply about 47.0%, 23.2% and 18.4% respectively, and they are analyst estimates, not assured returns.
How big is Tata Power net debt and why does it matter?
Ans. Net debt was Rs 62,681 crore at the end of Q2 FY27, up from Rs 61,238 crore in Q1, because the company is spending heavily on renewables, transmission and storage. Debt to equity is 1.93, so higher interest costs can absorb part of any operating gain. Investors watch whether new capacity starts earning before debt climbs further.
How is Tata Power Renewable Energy performing?
Ans. Tata Power Renewable Energy commissioned 419 MW of utility-scale capacity in Q2 FY27, against 182 MW a year earlier, along with 131.2 MWh of battery storage. Its operating portfolio is 7.2 GW, and the company plans to execute more than 2 GW in the second half of FY27 and reach about 12 GW in FY28. Delivery against that schedule is the key test.
What are the key support and resistance levels for Tata Power?
Ans. The price is above its 20-day average of Rs 351.59 and the SuperTrend support of Rs 335.69, and the 14-day RSI is 56.9, which is neutral to mildly positive. Resistance sits near the day high of Rs 367.4 and the SuperTrend upper band of Rs 379.18, while the 52-week low is Rs 333.2. A close below Rs 335.69 would weaken the setup.
Should I buy Tata Power shares now?
Ans. The case for buying rests on record profit, a diversified mix across generation, distribution, renewables and solar manufacturing, and broker targets above the market price. The case for caution is net debt of Rs 62,681 crore, a PE of 21.94 against an industry PE of 20.74, and a stock that is 23.2% below its 52-week high of Rs 464.9. This is not investment advice from Univest (SEBI RA INH000013776), so consult a SEBI-registered advisor first.
