Triveni Turbine Share Price Target NSE: Stock JUMPS 54% in 2 months - FIIs' favourite scrip

Triveni Turbine Share Price NSE Target: Triveni Turbine share price has been gaining value rapidly. On Monday, September 5, Triveni Turbine (NSE: TRITURBINE) share hit 52-week high mark of Rs 242.80. By closing trade, it settled at Rs 231.25  -- logging a rise of over 8% from Friday levels.

On BSE, TRITURBINE BSE share price too hit a fresh 52-week high on September 5, 2022. Triveni Turbine share price settled at Rs 231.65 on BSE after gaining 8.17%.

TRITURBINE share price 52-week range is Rs 242.80 - Rs 131.00 on NSE, as per Monday, September 5, closing.

Why is Triveni Turbine share in focus? How it became FIIs' favourite stock?

As per market expert and Zee Business panelist Arman Nahar, Triveni Turbine share price has risen over 54% in the last 2 months.

Triveni Turbine Share Price Target 2022

As per the charts, Triveni Turbine stock had shown a triple-top pattern, but  the pattern subsequently failed. And the failure of this pattern (like all major pattern failures) is showing good results. These factors have led to a major breakout in Triveni Turbine stocks.

Triveni Turbine share target: Rs 270-275  

क्यों एक्शन में त्रिवेणी टर्बाइन

दो महीने में शेयर 50% उछला

कैसी रहेगी त्रिवेणी टर्बाइन की ग्रोथ?

क्यों FIIs को पसंद आया शेयर?

जानिए पूरी डिटेल्स अरमान नाहर से @ArmanNahar | #TriveniTurbine pic.twitter.com/QlLbx9seft

— Zee Business (@ZeeBusiness) September 5, 2022

Triveni Turbine Ltd.

Triveni Turbine is in the business of manufacturing steam turbines that are used to produce electricity. And as per the annual report and investor presentation, as energy demand increases, turbines are turning efficient and generating more electricity. As per Arman Nahar this company stands to benefit a lot from the ongoing global power crisis.

Triveni Turbine's performance, future plans

In first quarter of FY23, Triveni Turbine registered orders worth Rs 360 crores — a record high number of orders received by the company. Apart from that, company's total order book is worth Rs 1,070 crores.

Triveni Turbine is also in the process of expansion. And after expansion its capacity will increase from the current 150-180 turbines to 200-250  turbines per annum. The company has registered a 22% rise in international queries due to the current global power crisis.

Also, one glance at the FII holdings in the company in the past 10 quarters shows that holdings by foreign institutional investors has risen in every quarter. It has risen from 11.05% in December 2019 to 12.25% in June 2020, and it has risen to 14.39% in June 2021 to reach 16.97% levels in June 2022.