CITI has maintained buy rating on NTPC with a target of Rs 186 but it prefers Power Grid Corporation in largecap and CESC in midcap over NTPC in the India electric utilities sector.
The company has currently has an installed group capacity of 51.7GW. It has already been commissioned 1.17GW out of its targeting 5.4GW in FY18.
The company currently has 20.97GW capacity under construction and 4.99GW under tendering, meanwhile it hopes to add over 5GW in FY19 as well, it added.
If the fixed charges of company's coal and gas based stations are pooled, it believes that the consequent higher utilization of cheaper pit head stations can lead to reduction in per unit cost of electricity for end consumers.
The company has solar capacity of 865MW and has committed to own 10GW of capacity by FY22E. It is implementing another 15GW capacity through subsidiary NVVN.
At 11:15 hrs NTPC was quoting at Rs 168.60, up Rs 3.70, or 2.24 percent on the BSE.
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