Centrum recommended hold rating on NTPC with a target price of Rs 165 in its research report dated February 08, 2017.
Centrum's research report on NTPC
We retain Hold on NTPC with a revised TP of Rs 165 (earlier TP of Rs146) as we roll-over to Mar’19E. Core earnings appear weak despite lower tax rate and sequential higher other income with our inference of core RoE at 5.2% vs 5.5% in Q2FY17. Adjusted for lumpy prior period earnings, adjusted EBITDA/PAT per unit on a sequential basis reflect de-growth.
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