Hold NTPC: target of Rs 137: ICICI Direct

ICICI Direct's research report on NTPC

NTPC is India’s largest power generation company with a total installed capacity of 66885 MW at the group level. NTPC has 17% of total installed capacity in India with 23% generation share The company’s vision is to become a 130 GW+ company by 2032 of which 60 GW would be contributed by renewable energy

Outlook

We maintain our HOLD rating on the stock We value NTPC at Rs 137 i.e. 1x FY23E book value.

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