Buy NTPC, target price Rs 77: ICICI Securities
ICICI SecuritiesNSE 9.99 % has given a buy rating to NTPC with a target price of Rs 77. The NTPC stock has performed in-line (-37.3 per cent) with the NIFTY (-37.5 per cent) in year-to-date CY20 despite a 20 per cent adjusted profit growth in 9 months of FY20. The robust regulated business model will be negligibly impacted due to Covid-19 since earnings depend on capacity creation and plant availability. The brokerage expects NTPC’s profitability to improve further in the coming quarters.
The company share price moved down by -2.70 per cent from its previous close of Rs 79.70. The last traded price is Rs 77.55. Incorporated in 1975, NTPC is a largecap company with a market cap of Rs 78859.62 crore
