Triveni Turbine shares have emerged as one of the standout performers in the Indian stock market over the past few years, delivering significant returns to investors. During the post-COVID rally, the share price of Triveni Turbine surged from approximately Rs 50 to Rs 480 per share on the NSE, translating to an impressive return of 860% for investors who capitalised on the opportunity. Despite this remarkable growth, several brokerage firms believe there is still room for further upside potential in this stock. Motilal Oswal has recommended a ‘buy’ rating on Triveni Turbine shares with a target price of Rs 540 per share, while Sharekhan has also issued a ‘buy’ recommendation, setting a target price of Rs 550 per share.
Investor Motilal Oswal provided insights into the financial performance of Triveni Turbine shares, stating, “Currently, the stock is trading at a P/E ratio of 41X/31X for FY25E/26E. We have adjusted our estimates to accommodate increased costs associated with the company’s expansion into new markets to bolster its aftermarket presence. Additionally, we have updated our valuation outlook to March 2026. Despite these adjustments, we maintain our BUY rating and have revised our target price to Rs 540. Risks to our recommendation include slower-than-expected order inflow growth, lower-than-anticipated margins and a potential slowdown in global markets.”
Highlighting the fundamentals of Triveni Turbine shares, Sharekhan’s report states, “We have adjusted our estimates for FY2025 and FY2026 to reflect higher profitability in our valuation. The increasing momentum in aftermarket services and exports bodes well for improved profitability. Moreover, the climate change initiatives in its key export markets are expected to drive growth for its products. Currently trading at 29 times its FY2026E EPS, we believe there is potential for upside given the strong growth outlook and solid ROE/ROCE ratios. Therefore, we maintain our Buy recommendation on Triveni Turbines Ltd with a revised price target (PT) of Rs 550.”
Over the past month, the share price of Triveni Turbine has experienced a notable increase of 25%. In the preceding six months, this multi-bagger stock has surged by slightly over 20%. Looking back over one year, Triveni Turbine’s share price has seen a significant rise of approximately 40%. Notably, this mid-cap stock has witnessed strong investor interest during the post-COVID rebound period. Bottom fishing activity was particularly prominent, with Triveni Turbine’s share price bottoming out at around Rs 50 per share in March 2020. Today, the share price stands at around Rs 480 per share, indicating an impressive surge of 860% over nearly four years.
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