24 Mar , 2025 By : Debdeep Gupta
International brokerage Macquarie maintained its bullish outperform rating on power player NTPC as the broking house believes the public sector enterprises is a compelling play on India's power demand potential.
The brokerage issued a target price of Rs 475 per share of NTPC, which indicates a 35 percent upside from the previous session's closing price. At 9.23 am, shares of the PSU rose around 1.6 percent to quote Rs 357.05 apiece.
Amid the rising power demand, Macquarie said that NTPC's thermal assets ensure an assured return on equity, and will see further benefits from a steady medium-term regulatory regime. Further, the pickup in power demand continues to bode well for sentiment. The brokerage reaffirmed NTPC's inclusion in its 'India Diviner Series' Tactical 6.
The brokerage also noted that upgrades to NTPC's thermal pipeline remain possible. It anticipates more clarity on the company's next long-term growth driver, nuclear power, within six months.
Earlier this month, NTPC announced plans to invest Rs 96,000 crore in clean energy projects in Chhattisgarh.
"NTPC Group to invest Rs 96,000 crore in Chhattisgarh. NTPC, along with its subsidiary NTPC Green Energy Ltd (NGEL), today signed multiple agreements worth Rs 96,000 crore with the state government at the Chhattisgarh Energy Investors Summit-2025 held in Raipur," NTPC said in a statement.
The company has signed three key agreements, including a Memorandum of Understanding (MoU) with the state government for setting up 4,200 MW of nuclear capacity in Chhattisgarh at an estimated investment of Rs 80,000 crore.
NTPC shares have corrected 20 percent from their September 2024 highs and gained around seven percent over the past 12 months. During this time, the benchmark index Nifty 50 has also gained around seven percent.
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