NTPC stock correction offers buying opportunity, see 26% upside: Investec

Further, the group's total installed capacity was 76,598 megawatts by the end of CY24, increased by 2,724 MW over the year.

Power giant NTPC Ltd. shares will be in focus on January 2, after the firm reported a growth in power generation for the April-December period of FY25. Also, global brokerage Investec maintained its 'buy' call on the power player.

However, Investec cut its target price to Rs 421 per share, down from Rs 457 earlier. This indicates an upside of around 26 percent from the previous session's closing price.

NTPC shares have corrected over 25 percent from their highs, and according to Investec, the stock correction presents an opportunity. The firm has a strong and stable coal-based capacity across a regulated business model, which is risk-averse.

NTPC is also evolving into cleaner energy production by focusing on adding renewable capacities.

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India's largest power generator reported a 3.82 percent on-year growth in power generation for FY24 from April to December, as against the same period of the previous fiscal year. NTPC had generated around 325 billion units of electricity in the quarter gone by.

During this time, NTPC also mined around 30.88 million tonnes (MT) of coal from its mines, with production up 23 percent on-year. The coal plans also touched a cumulative plant load factor of 76.3 percent by December 31, 2024.

Further, the group's total installed capacity was 76,598 megawatts by the end of CY24, increased by 2,724 MW over the year.

NTPC has plans to set up a nuclear project in Bihar, a move which will increase its non fossil energy portfolio, the company's Chairman and Managing Director (CMD) Gurdeep Singh said.

NTPC has also requested the state government for a land parcel at a suitable location to take forward its nuclear plans, he said addressing a session at the 'Bihar Business Connect 2024' summit in Patna.

"Looking at the future of the energy sector, nuclear (energy) is expected to become extremely important for the energy sector, 20-30 years down the line. I want to share that NTPC is now entering the nuclear energy space," Singh said.

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