Buy Torrent Power

Keep buying on Torrent Power with a target price of Rs 146 . The company has posted excellent results for the quarter ended June 2008. The net sales for Q1FY09 stood at Rs 11133.50 million against Rs 8978.70 million in Q1FY08 depicting a growth of 24 %. The expenditures have grown at 20.95% clearly depicting the strength of the company. EBITDA for Q1FY09 stood at Rs 1412.30 million, showing a sharp surge of over 50 % from the previous year?s levels.