Buy NTPC October future: TS Harihar

TS Harihar of HRBV Client Solutions told CNBC-TV18, "With the huge investment that the government is planning to refurbish all the power plants in India, we believe that NTPC actually could be both one defensive bet and two also an aggressive play on the government power expenditure. So, we are actually recommending buying October NTPC futures at a price of about Rs 122 and also hedge it with a 120 October put at a premium of Rs 2. So, you are totally having a maximum risk of Rs 4 and the strategy is profitable above a price of Rs 124."At 12:20 hrs NTPC was quoting at Rs 122.35, up Rs 1.55, or 1.28 percent.Disclosure: Analyst does not have any positions, nor have recommended it to anyone else.