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NTPC rises on brokerage upgrade
22-Nov-19   11:11 Hrs IST

According to reports, the brokerage also raised its price target on the stock to Rs 152 from Rs 146.70. The brokerage stated that the the company's fixed costs under-recovery was reducing, while potential government stake sale remained an overhang. The steady commissioning should drive earnings and risk-reward was attractive as two of the three concerns either reversing or known, it added.

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday cleared strategic disinvestment in two hydro power producing companies - NEEPCO and THDC - in favour of NTPC that is looking to expand its operations and boost the renewable portfolio.

The Centre holds entire 100% stake in NEEPCO that operates close to 1,500 MW of power plants in the northeastern region, and has 75% holding in THDC. The Uttar Pradesh government holds the balance 25% stake in THDC India.

Meanwhile, the S&P BSE Sensex was down 152 points or 0.37% to 40,423.12.

The stock was trading in the range of Rs 116.60 to Rs 119.25 so far during the day.

NTPC's consolidated net profit rose 36.4% to Rs 3,400.84 crore on 4.8% rise in net sales to Rs 24,459.70 crore in Q2 September 2019 over Q2 September 2018.

NTPC is engaged in the generation and sale of electricity. The principal business activity of the company is the electric power generation by coal-based thermal power plant. The company's business segments include generation and others.

As of 30 September 2019, the Government of India held 539.29 crore equity shares, or 54.50% stake in the company.

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