Torrent Power falls 35% from April high; hits 31-month low
In short
Torrent Power fell 35% from its April high and hit a 31-month low. Motilal Oswal Financial Services started coverage with a Neutral rating and a target price of ₹1,270.
The move matters to Torrent Power shareholders because it shows weak market sentiment. The reporting does not say what caused the fall or how much upside or downside the target price implies.
What the reporting says
Torrent Power fell 35% from its April high and touched a 31-month low, after Motilal Oswal Financial Services initiated coverage with a Neutral rating and a sum-of-the-parts target price of ₹1,270. The report is the only cited reason in the available material. It is not stated why the stock moved or whether the target implies upside or downside from the latest price.
Why it matters
Torrent Power shares dropped to a 31-month low after Motilal Oswal Financial Services began coverage with a Neutral rating and a sum-of-the-parts target of ₹1,270. The move matters for investors tracking the stock’s valuation and for market watchers comparing the target with the recent sharp decline from the April high. The source does not state any business trigger behind the price move.