UBS Securities positive on NTPC

Suresh Mahadevan, MD & Head of Indian Equities of UBS Securities is positive on NTPC but not on power sector.

Mahadevan told CNBC-TV18, “We are positive on NTPC. But I am not very positive on the power space as such given the various problems, facing the sector. NTPC, obviously is a very defensive name. I used to have it in the portfolio; I don't have it now because of the bullish view on the market. If the market is going to be bullish then we are better off stick to some beta and not so much defensive. But as a stock, bottom up story, we like the name. Our analysts are still very positive on the name.”