Hold NTPC, says Jagdish Malkani

One can hold NTPC, says Jagdish Malkani, Member NSE/ BSE.

Malkani told CNBC-TV18, "National Thermal Power Corporation (NTPC) after the initial euphoria of many years seen these ups and downs. It has been quite a disappointment to say the very least along with public sector undertaking (PSU) stocks in general, which are really out of favour especially in the last year or so. It has been disappointing considering that it generates about 40,000 odd megawatts out of 220,000 that’s installed in the whole country.”
He further added, “The whole sector has been languishing. It suffered in valuation due to that and then recently it has had this unfortunate skirmish going on with Coal India. So my net advice is to hold on, for now these are not levels to get out, when PSU stocks sentiment improves then the power sector sentiment improves.”
“I would generally say one could be better off moving into the same sector and moving into better pedigree stocks like Siemens, ABB, Larsen and Toubro (L&T), which are kind of going begging or on a contrarian play even Bharat Heavy Electricals (BHEL).”