Expect NTPC to gain by Rs 20-30: Thununguntla

Jagannadham Thununguntla, Strategist & Head of Research of SMC Global Securities told CNBC-TV18, "I always say the stocks like NTPC are not stocks, they are bonds. They should be bought only for earning yield or whatever the yield that comes because the upside and revenues is defined as per the pricing formula then how can the upsides come. I am not expecting the buying point to come anytime soon."

"However, from the tactical exit point of view, Rs 20-30 bounce can be expected being a defensive kind of stock. And that little bit of revival should be used for exiting. NTPC is not a stock it is just a bond," he said.