Buy NTPC; target of Rs 199: Motilal Oswal

Motilal Oswal is bullish on NTPC has recommended buy rating on the stock with a target price of Rs 199 in its research report dated February 08, 2017.

February 09, 2017 / 17:31 IST

26 Aug, 2025 12:21

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Motilal Oswal's research report on NTPC

NTPC plans to replace 11GW old depreciated plants over time subject to getting PPAs, such that there is no loss of RoE in the transition. Initially, one plant each of 1,320MW at Talcher and Singrauli are in discussion.

Outlook

We expect consolidated EPS CAGR of 10% over FY16-21E. RoE is expected to improve from 12% in FY16 to 13% in FY20E. We value the stock at INR 199/share based on DCF. Maintain Buy.

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first published: Feb 9, 2017 05:31 pm

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