As of 9:30 AM, Power Grid shares were trading 0.59 per cent lower at ₹287.45, while CESC fell 0.64 per cent to ₹169.95. By comparison, the BSE Sensex was down 0.29 per cent at 82,260.52 levels.
According to analysts, CESC's bull-case target of ₹200 assumes timely recovery of regulatory assets (RA) by FY30E, 3.2GW of RE at ~17 per cent RoE, and the new solar manufacturing venture.
On the bourses, CESC share price rose as much as 1.16 per cent to an intraday high of ₹156.15 per share.