Buy NTPC; target of Rs 185: Religare
Religare is bullish on NTPC has recommended buy rating on the stock with a target price of Rs 185 in its research report dated October 28, 2016.
November 07, 2016 / 13:58 IST
Religare's research report on NTPC NTPC’s Q2FY17 results (revenue/adj. PAT: +8.1%/+8.5% YoY to Rs 194bn/ Rs 23bn) were ahead of estimates owing to higher capacity charges recovered from the company’s increased capacity. While PLFs suffered due to sluggish demand, NTPC remains the best play among power generators with secure PPAs and low costs. We believe the company’s return ratios will improve due to its aggressive commercialisation schedule (3,725MW in FY17). Reiterate BUY with a Sep’17 TP of Rs 185 (Mar’17 TP: Rs 175).
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