February 11, 2017 / 14:51 IST
Edelweiss' research report on NTPC NTPC’s Q3FY17 adjusted PAT of INR 22.4bn moved up 8.5% YoY, implying RoE of 19.8% (a 40bps decline YoY). This was on average regulated equity of INR 424bn, an 8%/1% increase YoY/QoQ. For FY17, management continues to build target capacity addition of 4GW (already achieved capacity addition of 1.37GW till date).
Outlook
At the same time, the Delhi High Court has permitted NTPC to approach Central Electricity Regulatory Commission (CERC) with the difficulties being faced in implementing wagon sampling. Retain ‘BUY’ with a SoTP-based target price of INR 190.
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