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NTPC gains after foreign brokerage retains buy call

NTPC rose 1.74% to Rs 131.25 at 10:49 IST on BSE after a foreign brokerage retained its buy call on the stock with a target price at Rs 157.

Meanwhile, S&P BSE Sensex was up 19.91 points or 0.05% at 38,843.02.

On BSE, 64,000 shares were traded in NTPC counter, compared to a 2-week average of 4.5 lakh shares. The share price hit an intraday high of Rs 131.55 and an intraday low of Rs 129.75. It hit a 52-week high of Rs 146.19 on 14 September 2018 and a 52-week low of Rs 106.71 on 13 February 2019.

The brokerage reportedly stated that SJVN acquisition would enable NTPC to double its share of renewables and triple its hydro capacity. The brokerage has also said that SJVN could double hydro capacity with its 2.7 GW of hydro assets.

As on 31 March 2019, the Government of India held 56.41% stake in NTPC.

NTPC's net profit rose 48.7% to Rs 4,350.32 crore on a 8.1% decline in net sales to Rs 21,222.39 crore in Q4 March 2019 over Q4 March 2018.

NTPC is an energy conglomerate company engaged in power development in India.

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