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NTPC share price gains after singing MoU with L&T for methanol plants

Global research firm Morgan Stanley has an overweight rating with target at Rs 138 per share while CLSA has a buy rating with target at Rs 140 per share.

August 20, 2020 / 10:16 AM IST
 
 
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NTPC share price gained over 3 percent intraday on August 20 after L&T Hydrocarbon Engineering signed MoU with the company for CO2 to methanol plants.

The stock was the top index gainer and was trading at Rs 97.45, up Rs 2.80, or 2.96 percent. It has touched an intraday high of Rs 98.00 and an intraday low of Rs 94.45.

The company reported a 5.9 percent year-on-year (YoY) fall in consolidated net profit to Rs 2,948.94 crore in Q1 FY21 against Rs 3,132.73 crore in the corresponding quarter year ago.

Vikas Jain, Senior Research Analyst at Reliance Securities has recommended buy with a target of Rs 108. Multiple support levels in the range of 89-92 levels would be protected and offer a good risk-to-reward ratio from current levels, he said.

Global research firm Morgan Stanley has an overweight rating with target at Rs 138 per share. The company reported profit beat which was driven by a lower rebate to SEBs (state electricity boards).

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CLSA has a buy rating with target at Rs 140 per share. It is of the view that the company can exceed its FY30 RE target and can match/exceed India’s COP21 commitments of 40 percent non-fossil capacity.

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first published: Aug 20, 2020 10:16 am
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