International brokerage Macquarie maintained its bullish outperform rating on power player NTPC as the broking house believes the public sector enterprises is a compelling play on India's power demand potential.
The brokerage issued a target price of Rs 475 per share of NTPC, which indicates a 35 percent upside from the previous session's closing price. At 9.23 am, shares of the PSU rose around 1.6 percent to quote Rs 357.05 apiece.
Amid the rising demand for power, Macquarie said that NTPC's thermal assets ensure an assured return on equity, and will see further benefits from a steady medium-term regulatory regime. Further, the pickup in power demand continues to bode well for sentiment. The brokerage reaffirmed NTPC's inclusion in its 'India Diviner Series' Tactical 6.
The brokerage also noted that upgrades to NTPC's thermal pipeline remain possible. It anticipates more clarity on the company's next long-term growth driver, nuclear power, within six months.
Follow our live blog to catch all the updates
Earlier this month, NTPC announced plans to invest Rs 96,000 crore in clean energy projects in Chhattisgarh.
"NTPC Group to invest Rs 96,000 crore in Chhattisgarh. NTPC, along with its subsidiary NTPC Green Energy Ltd (NGEL), today signed multiple agreements worth Rs 96,000 crore with the state government at the Chhattisgarh Energy Investors Summit-2025 held in Raipur," NTPC said in a statement.
The company has signed three key agreements, including a Memorandum of Understanding (MoU) with the state government for setting up 4,200 MW of nuclear capacity in Chhattisgarh at an estimated investment of Rs 80,000 crore.
NTPC shares have corrected 20 percent from their September 2024 highs, and gained around seven percent over the past 12 months. During this time, benchmark index Nifty 50 has also gained around seven percent.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
