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Last Updated : Sep 28, 2020 10:14 AM IST | Source: Moneycontrol.com

NTPC share price up 3% after CLSA retains buy with target of Rs 140

The research firm is of the view that the company is set for a ESG rating upgrade. It has raised its ESG score for NTPC by 11 percent adding that it will expand regulated equity by 35 percent and RoE by 163 bps over FY20-22.

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NTPC share price was up 3 percent intraday on September 28 after CLSA maintained a buy call on the stock with a target of Rs 140 per share.

The research firm is of the view that the company is set for an ESG rating upgrade. It has raised its ESG score for NTPC by 11 percent adding that it will expand regulated equity by 35 percent and RoE by 163 bps over FY20-22, according to a CNBC-TV18 report.

The company has invited bids for the procurement of biomass pellets which would be used to co-fire its thermal plants. The pellets made out of stubble and husk would be utilised at its 17 thermal coal-fired power plants across the country as part of measures to reduce stubble burning.

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In January, the power giant had announced that it would procure and use six million tonne (MT) of biomass pellets to co-fire its power plants along with coal. A company official had informed that a tonne of pellets costs around Rs 7,000.

In a statement issued on September 27, NTPC Ltd said, "It has invited bids for procurement of biomass pellets for its various thermal plants on the basis of domestic competitive basis (DCB) as part of its endeavour to reduce the burning of crop residue on farmlands that cause air pollution."

The stock was trading at Rs 87.15, up Rs 2.45, or 2.89 percent. It has touched an intraday high of Rs 87.60 and an intraday low of Rs 85.30.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has zero promoter pledge. The company has been effectively using its capital to generate profit - RoCE improving in last 2 years.

However, Moneycontrol technical rating is very bearish with moving averages and technical indicators being bearish.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​
First Published on Sep 28, 2020 10:14 am
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