Last Updated : Jun 30, 2020 02:00 PM IST | Source: Moneycontrol.com

Buy NTPC; target of Rs 145: Motilal Oswal

Motilal Oswal is bullish on NTPC recommended buy rating on the stock with a target price of Rs 145 in its research report dated June 28, 2020.

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Motilal Oswal 's research report on NTPC


NTPC’s results highlight the impact of several one-offs, largely on the tax front. Adj. for these one-offs, though, numbers reflect the benefit of fixed cost (F/C) recoveries and strong other income. We expect FC under-recoveries (u/r) to remain low on better coal availability. Commercialization at 5.3GW in FY20 marked an all-time high for the company. A pickup in capitalization, along with lower F/C u/r, should drive a 10% earnings CAGR over FY20–23. Maintain Buy, with TP of INR145/sh.



Outlook


Thus, FC u/r should remain low. Maintain Buy, with a DCF based target price of INR145/sh.





For all recommendations report, click here

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First Published on Jun 30, 2020 02:00 pm
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